SEA wins £25m contract with UK MoD
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One Waterside Drive Arlington Business Park Reading Berks RG7 4SW
29 March 2021
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COHORT PLC
("Cohort" or "the Group" or "the Company")
Contract Wins
SEA WINS £25M CONTRACT WITH UK MOD
Cohort plc, the independent technology group, is pleased to announce that its subsidiary Systems Engineering & Assessment Limited ("SEA") has been awarded a new 10-year contract, with a value of approximately £25 million, for the management and upgrade of in-service sonar equipment for the UK Ministry of Defence ("the MOD"). The contract will be revenue generating from April 2021, with revenues spread evenly across the first seven years, tailing off in years seven to ten.
Under the contract, won after a competitive tender, SEA will maintain the Royal Navy's in-service sonar equipment, a service that they have successfully provided for the past ten years. In addition, the new contract provides for certain upgrades to the equipment, ensuring the sonar systems remain operationally available and ready for service at all times.
Andy Thomis, Cohort Chief Executive, said:
"This contract win clearly demonstrates SEA's strong capability in sonar systems and our enduring relationship with the MOD and the Royal Navy. Together with other recent contract wins across the Group, this contract further underpins our order book and enhances the visibility of future revenues."
ENDS
For further information, please contact:
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Cohort plc |
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0118 909 0390 |
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Andrew Thomis, Chief Executive Raquel McGrath, Company Secretary |
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Investec Bank plc |
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020 7597 5970 |
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Daniel Adams / Christopher Baird |
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MHP Communications |
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020 3128 8100 |
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Reg Hoare / Pete Lambie / Isabella Grace |
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NOTES TO EDITORS
Cohort plc (www.cohortplc.com) is the parent company of six innovative, agile and responsive businesses based in the UK, Germany and Portugal, providing a wide range of services and products for domestic and export customers in defence and related markets.
Chess Technologies, through its operating businesses Chess Dynamics and Vision4ce, offers surveillance, tracking and fire-control systems to the defence and security markets. It was acquired by Cohort plc in December 2018. www.chess-dynamics.com & www.vision4ce.com
EID designs and manufactures advanced communications systems for naval and military customers. Cohort acquired a majority stake in June 2016. www.eid.pt
ELAC SONAR supplies advanced sonar systems and underwater communications to global customers in the naval marketplace. Acquired by Cohort in December 2020. www.elac-sonar.de
MASS is a specialist data technology company serving the defence and security markets, focused on electronic warfare, digital services and training support. Acquired by Cohort in August 2006. www.mass.co.uk
MCL designs, sources and supports advanced electronic and surveillance technology for UK end users including the MOD and other government agencies. MCL has been part of the Group since July 2014. www.marlboroughcomms.com
SEA delivers and supports technology-based products for the defence and transport markets alongside specialist research and training services. Acquired by Cohort in October 2007. www.sea.co.uk
Cohort (AIM: CHRT) was admitted to London's Alternative Investment Market in March 2006. It has headquarters in Reading, Berkshire and employs in total around 1,000 core staff there and at its other operating company sites across the UK, Germany and Portugal.
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