Cambridge, ON — COM DEV International announced that it has signed an agreement to acquire 100 per cent of MESL Microwave Ltd. for £12.8 million in a transaction that expands COM DEVs market and product portfolios.
Headquartered in Edinburgh, Scotland, MESL Microwave Ltd. plays a significant role in the global microwave technology market, designing and manufacturing high-reliability components and subsystems for the radar, communications, defence and aerospace industries.
This deal gives COM DEV a positive step in the right direction. The transaction builds on the Companys core expertise in radio frequency ferrite equipment and microwave devices for satellites.
It is estimated that over the next couple of decades, COM DEV will face an unprecedented demand for high-power, high-speed ferrite material-based switching networks. These products are used in space-based earth-observation and telecommunications satellites, and this transaction establishes COM DEV as a dominant player in that market.
The acquisition of MESL Microwave also allows for COM DEV to have greater access to the aerospace market, as they will now be adding complimentary product offerings in the space market.
This represents a step forward in COM DEVs strategy to increase its participation in the aerospace market, and provides the opportunities to bring some of the aerospace technologies and manufacturing competence into the space domain. MESL Microwave brings expertise in the aerospace market, which can be leveraged to gain efficiencies in the space business.
Cross-party support from within government for the UKs Space Innovation and Growth Strategy, and the leadership of the UK Space Agency and Innovate UK have shown us that the UK is serious about exploiting the potential of the space industry for the long term. The UK is a great place to develop new technology thanks to the incentives that are available, and the UKs increasing commitment to the European Space Agency and other international partnerships, said Rob Spurrett, President of COM DEV International Systems.
Continuing, Mr. Spurrett said, COM DEV has been in the UK for several decades, with over 80 per cent of the products designed and manufactured in its UK operations being exported around the world.
Michael Pley, CEO of COM DEV International Ltd., commented on the transaction, We are now moving to a new phase in UK operations. We have seen growth in revenue in our Aylesbury facility over recent years and are anticipating further substantial growth in this supportive environment. We are now well-placed with a foothold close to the space hub in Harwell, England, and with this transaction now in the Scottish space cluster as well. We are here to build upon what we started almost 30 years ago.
SOURCE COM DEV International
