Wärtsila divests shares in Wärtsilä ELAC Nautik
Wärtsilä has divested shares in Wärtsilä ELAC Nautik (ELAC Nautik) to Cohort, the company announced on 12 December.
ELAC Nautik became part of Wärtsilä as a result of the acquisition of L-3 Communications MSI in 2015. The company provides hydroacoustic products, including sonars, underwater communication systems and echo systems for small and medium sized military submarines.
The acquisition is in line with Cohort’s stated strategy to accelerate its growth through targeted acquisitions.
Andrew Thomis, Cohort chief executive, said: ‘The acquisition of ELAC is a significant step for Cohort, adding a sixth standalone business to our growing and profitable portfolio. It is highly complementary to our core capabilities in defence and security, with a leading position in the attractive and growing submarine and surface sonar markets, strengthening and broadening the group’s existing capabilities in maritime systems.’
More from Naval Warfare
-
![UK and US marines train to guard nuclear deterrent submarines]()
UK and US marines train to guard nuclear deterrent submarines
The Autumn round of Tartan Eagle training just concluded in Scotland.
-
![Saab and Singapore DSTA expand their understanding on undersea defence]()
Saab and Singapore DSTA expand their understanding on undersea defence
The organisations have broadened the remit of an existing MoU to help boost underwater defence innovation.
-
![Norway invites four nations to talk partnerships over new frigates]()
Norway invites four nations to talk partnerships over new frigates
The US, the UK, France and Germany each have existing frigate programmes.
