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Investing.com -- Chemring Group (LON:CHG) stock gained 1.6% after announcing the acquisition of Landguard Nexus Limited for up to £20 million, bolstering its electronic warfare capabilities.
The defense technology company will pay £14 million in cash upfront, with an additional £6 million in potential earn-outs subject to performance criteria. The acquisition was made through Chemring’s Roke subsidiary and is expected to complement its Cyber and Electromagnetic Activities (CEMA) product offering.
Landguard specializes in designing, manufacturing, and supporting software-defined radio systems (SDRs), including tracking products across satellite, cellular, and radio frequency communication networks. The current owner-managers are expected to remain with Chemring following the acquisition.
Jefferies analysts commented on the deal: "We view Chemring’s announced acquisition of Landguard Nexus as strategically sensible, purchasing a company that is part of its existing supply chain for EW products, whilst also providing market opportunities in its own right."
The acquisition represents Chemring’s strategic move to strengthen its position in the electronic warfare market by integrating a key supplier into its operations while expanding its technological capabilities.
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