Cobham

What Cobham does

Cobham Ultra Group is a UK-headquartered defense electronics company formed through the 2022 combination of Cobham (founded 1934, Wimborne, UK) with Ultra Electronics under the ownership of U.S. private equity firm Advent International. The company designs and manufactures mission-critical hardware and software for military and aerospace customers, with a workforce of 5,001–10,000 employees across multiple geographies. Its product portfolio spans tactical radios, satellite communication terminals, aerospace electronic controls, encryption tools, edge computing systems, and a software suite including the Apex, ADSI, ACTS, Rain, and Knox platforms. The company maintains a dedicated research and development unit in Basingstoke with 135+ engineers focused on advancing its core technologies.

The business model is anchored in long-cycle government procurement, with the U.S. Military as the dominant customer alongside allied defense ministries and prime contractors. Foreign Military Sales (FMS) channels extend reach to partner nations, and B2B sales to aerospace manufacturers round out the revenue mix. The platform has historically generated EBITDA margins well above 20%, reflecting the high-value, low-volume nature of mission-critical defense electronics with deep program-of-record entrenchment. Strategic priorities under PE ownership have emphasized portfolio rationalization, with multiple large divestitures in 2026 including Ultra PCS to Eaton ($1.55B), Ultra I&C Mission Solutions to Booz Allen ($720M), Ultra Cyber to Airbus, and Tactical Communications to Marconi Technologies.

Underlying end-markets — tactical communications, electronic warfare, cyber, and aerospace controls — are expanding on the back of elevated NATO defense spending commitments and rearmament across allied nations. The company has settled a U.K. Serious Fraud Office bribery investigation for £15 million, clearing a material legal overhang. With the divestiture wave materially reducing the scope of the residual platform, the strategic question for investors is whether Advent will reinvest proceeds into adjacent platforms or continue an orderly exit through further sales.

Name

Cobham

Legal name

Cobham Ultra Group

Website

https://cobham.com

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Cobham Ultra Group is a UK-based defense electronics company owned by Advent International, providing tactical radios, satellite terminals, encryption tools, edge computing systems, and mission-critical software to U.S. and allied military programs.

Ownership category

akta.pro rank

Product category

Defense Electronics

NAICS

Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511)

SIC

Search, Detection, Navagation, Guidance, Aeronautical Sys (3812), Industrial Instruments For Measurement, Display, And Control (3823)

akta.pro primary industry

Military ISR, EW & SIGINT Payloads (Airborne) (IMABAMAF)

akta.pro secondary industry

IFF/Identification, Beaconing & Cooperative Surveillance Systems (IMABAGAF)

Keywords

• Defense electronics
• Mission-critical software
• Encryption systems
• Tactical communications
• Aerospace controls

Headquarters

HQ city

Wimborne

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Defense Technology Products: Sale of mission-critical software, encryption, and edge-compute products to U.S. military and allied defense programs
2. Aerospace Electronic Controls: Electronic controls, sensing products, and data processing solutions for aerospace customers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Cobham is a UK-based defense technology company that designs, develops, and manufactures mission-critical software, encryption tools, edge computing systems, tactical radios, satellite communication terminals, and aerospace electronic controls and sensing products. Its offerings support command-and-control operations, secure military communications, and battlefield operations in contested environments for the U.S. military, allied defense programs, and aerospace customers.

Product overview

Cobham, through its Cobham Ultra Group portfolio company owned by Advent International, operates as a defense technology business offering mission-critical software, encryption tools, and edge computing systems for the U.S. military and allied programs. The product portfolio includes named products such as Apex, ADSI, ACTS, Rain, and Knox, along with electronic controls, sensing products, data processing solutions, tactical radios, and satellite communication terminals. These products serve command-and-control operations, secure communications, and aerospace applications for military and civilian aircraft. Cobham's divisions have been subject to multiple acquisitions, with Ultra I&C Mission Solutions (including the Apex, ADSI, ACTS, Rain, and Knox products) being acquired by Booz Allen Hamilton, Ultra Cyber being acquired by Airbus, and Ultra PCS (producing electronic controls and sensing products) being acquired by Eaton.

Differentiator

Problem solved

Functional benefit

Products and services

• Apex Mission-critical software product in the Ultra I&C Mission Solutions portfolio, used in defense applications.
• ADSI Edge-compute and encryption product for defense and secure communications applications.
• ACTS Mission-critical software and encryption product supporting command-and-control operations.
• Rain Edge-compute and encryption product for battlefield software applications.
• Knox Mission-critical software product in the defense technology portfolio.
• Electronic Controls Electronic control systems produced by Ultra PCS for aerospace customers, including safety and mission-critical systems for military and civilian aircraft.
• Sensing Products Sensing products for aerospace applications, supporting both military and civilian aircraft platforms.
• Data Processing Solutions Data processing solutions for aerospace customers including electronic controls and sensing products.
• Tactical Radios Hardware communications technology for tactical operations, sold to government and allied countries.
• Satellite Communication Terminals Satellite communication terminals for defense and tactical communications applications.

Quantifiable outcome

• Strong double-digit revenue growth projected for acquired business unit
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered major and minor.

• Booz Allen HamiltonmajorOthers · 24 June 2026Booz Allen Hamilton agreed to acquire Ultra I&C Mission Solutions from Cobham Ultra Group for $720 million. The acquisition will add mission-critical software, edge-compute and encryption products to Booz Allen's defense technology portfolio, with deal expected to close in 2027.
• Marconi TechnologiesminorOthers · 20 May 2026Canadian investors launched Marconi Technologies, a majority Canadian-owned defence company headquartered in Montreal, by acquiring the tactical communications division of Ultra I&C from Cobham Ultra. The company plans to sell tactical radios and satellite communication terminals to the Canadian government and allied countries.
• Airbus Defence and SpacemajorOthers · 23 March 2026Airbus entered into a definitive agreement to acquire Ultra Cyber Ltd from Cobham Ultra Group. Ultra Cyber's cyber centre of excellence in Maidenhead with over 200 employees will integrate into Airbus Defence and Space's Connected Intelligence business unit to strengthen cyber portfolio and airborne datalinks capabilities.
• EatonmajorOthers · 24 January 2026Eaton completed acquisition of Ultra PCS Limited from Cobham Ultra Group for $1.55 billion. Ultra PCS, headquartered in Cheltenham with operations in UK and US, produces electronic controls, sensing products, and data processing solutions for aerospace customers.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• L3Harris Technologies: L3Harris is a top-tier U.S. defense prime with a broad portfolio spanning tactical communications, electronic warfare, SIGINT payloads, avionics, and secure communications — directly overlapping with Cobham Ultra's mission-critical software, encryption, edge computing, and tactical radio offerings. It is the most direct large-cap comparable for Cobham Ultra's defense electronics and secure comms businesses.
• BAE Systems: BAE Systems is a global defense prime with major positions in electronic systems, secure communications, and cyber — comparable in scale and end customers to Cobham Ultra's mission-critical software and encryption portfolio, and a logical consolidator of remaining niche players.
• Thales Group: Thales operates across secure communications, aerospace electronics, sensors, and mission-critical defense systems globally. Its defence and security segments directly overlap with Cobham Ultra's encryption, tactical comms, and aerospace sensing businesses, particularly in UK and allied markets.
• Leonardo S.p.A. Leonardo's Electronics, Defence and Security segments cover tactical communications, encryption, sensors, and aerospace electronics — substantially overlapping with Cobham Ultra's product portfolio and serving the same European and allied defense customers.
• Elbit Systems: Elbit Systems is an Israel-based global defense electronics company providing tactical communications, EW, SIGINT, C4I, and aerospace electronic systems — comparable across multiple product lines to Cobham Ultra's mission-critical software, encryption, and tactical communications portfolio.

Direct peers

• Curtiss-Wright Corporation: Curtiss-Wright's Defense Solutions segment supplies mission-critical electronic controls, sensing products, and data processing solutions for military and civilian aerospace platforms — a near-exact match for Ultra PCS's product line, which Eaton acquired from Cobham Ultra for $1.55B. Highly comparable business model and end markets.
• Mercury Systems: Mercury Systems designs and manufactures secure processing subsystems, edge-compute, and mission-critical embedded electronics for aerospace and defense applications. It directly competes with Cobham Ultra's edge-compute (Rain) and aerospace electronic controls portfolio.
• Kratos Defense & Security Solutions: Kratos produces tactical communications, unmanned systems, and electronic warfare products for the U.S. military and allied customers. Its tactical radio and satcom terminal offerings overlap with Cobham Ultra's tactical communications division sold to Marconi Technologies.

Emerging players

• CACI International: CACI delivers mission-critical software, signals intelligence, and secure communications solutions to U.S. defense and intelligence agencies — comparable to Cobham Ultra's Ultra I&C Mission Solutions business that Booz Allen Hamilton is acquiring for $720M. Both target similar C2 and encrypted comms use cases.
• Booz Allen Hamilton Holding: Booz Allen is acquiring Cobham Ultra's Ultra I&C Mission Solutions business for $720M to add mission-critical software, encryption, and edge-compute products to its defense portfolio. The transaction makes Booz Allen a direct comparable for the type of value Cobham Ultra's specialized software/encryption assets can unlock.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/cobham_plc
• Facebookfacebook.com/cobham-plc-358135530957834
• LinkedInlinkedin.com/company/cobham

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors1 record

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M&A19 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cobham