Chemring Group PLC has announced that it has entered into a conditional agreement to acquire the entire issued share capital of Roke Manor Research Limited from Siemens Holdings plc for a cash consideration of £55 million.
Roke, based in Romsey, UK, is an engineering company that provides contract research, product development and low volume production for a wide range of UK and international customers.
It is a leading developer of advanced sensors, signal processing, communications and network solutions for the countermeasures, counter-improvised explosive device (counter-IED), counter-terrorism and industrial markets.
Defence and homeland security represent 75 per cent of existing revenues.
Roke has 450 employees, including over 300 engineers.
Roke is one of the world leaders in electronic warfare (EW) for the land sector, with a range of technologies and products for electronic countermeasures, electronic intelligence gathering, threat detection and target location.
It also provides key counter-IED capabilities for force protection, performs a vital national role in the supply of technology for network monitoring and intelligence gathering and is a key player in the emerging cyber-security market.
The acquisition of Roke substantially augments Chemring’s engineering capabilities in electronics, software and systems engineering.
It offers a wide range of technologies in radar signal and image processing, target location and identification that will enhance existing products.
Roke will build on Chemring's capability to offer advanced technology solutions to customers in the global countermeasures, counter-IED and counter-terrorist markets.
It will establish Chemring as a key player in the growing Homeland Security market.
Its broad range of electronics, sensors and communications will provide a strong platform for the development of next-generation products and systems, as well as offering entry points into several adjacent markets.
Chemring intends to maintain Roke’s successful business model in contract research and product development.
Roke will continue to develop products and technologies for third parties in all of its existing areas of expertise, and it will remain a preferred partner for Siemens Corporate Technology globally in the key areas of cyber security and open innovation.
It will also continue to exploit its proprietary products through direct sales and licensed production.