What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
On 10 September 2003, Chelton—then part of Cobham plc—announced it would acquire ERA Technology, an engineering consultancy. The transaction was expected to complete later that month, according to the contemporaneous report; that report does not independently confirm the closing date or disclose the purchase price.
Who was buying whom?
Chelton was a Marlow-based Cobham business making communications equipment, antennas and microwave components for military and commercial uses. It had manufacturing facilities in Europe and North America. ERA Technology, established in 1920, provided design and development, testing, assessment and expert advice.
The announcement positioned ERA’s scientific and technical knowledge, research and design capability as an addition to Chelton and the wider Cobham group. ERA chief executive Fred Cahill said: “ERA has significant synergies with the Chelton organisation and will provide a first class technical research and design capability.” The report said ERA’s management team, including Cahill, would remain.
What did the reported financial figures mean?
The figures published in EE Times in 2003 describe ERA at the time of the proposed sale. They are not the purchase consideration.
#1 Best Overall
| Figure | What it referred to |
|---|---|
| £21.3 million | ERA Technology turnover for the year to December 2002, as reported by EE Times in 2003. |
| £23 million | Projected turnover for 2003, as reported by EE Times in 2003; this was a forecast, not a final reported result. |
| £10.8 million | ERA Technology net assets as of 1 September 2003, as reported by EE Times; the figure included more than £5 million in cash. |
These are contemporaneous reported operating and balance-sheet figures. The available account does not state a purchase price, so they should not be treated as a valuation or as evidence of what Chelton paid.
Was the offer accepted, and when did the sale close?
The ERA Foundation’s 2021 retrospective history says staff were offered a choice between remaining independent and joining Cobham, and that the vote favored accepting Cobham’s offer by 80:20. Separately, EE Times reported on 10 September 2003 that completion was expected later that month. That expectation is not, by itself, confirmation of the final closing date.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to ERA Technology afterward?
Cobham Technical Services
In 2009, EE Times reported that ERA Technology, Culham Lightning and Vector Fields had been brought together under the Cobham Technical Services name.
The 2011 management buyout
In 2011, transaction adviser Baird described Phoenix Equity Partners funding a management buyout of ERA’s engineering consulting business from Cobham. Baird said Cobham retained ERA’s advanced technology and niche product business, which continued as Cobham Technical Services. The later transaction therefore separated the consulting business from activities that remained with Cobham; the 2003 headline alone does not describe the subsequent ownership of every ERA activity.
Quick Recap
Best Value
Rank #3
- non-fiction african american book set
- non-fiction black book set
- non-fiction african american children's book set
- non-fiction black children's book set
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
