British Defense Contractor Cobham Sells Business Unit

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Cobham has sold its Analytic Solutions business to privately held Parson in a deal worth $350 million to the British defense contractor. Cobham bought U.S.-based Analytic Solutions, previously known as Sparta, in 2008 for a little more than $400 million.

The operation generated sales of $322 million last year and employs about 1,100 people providing scientific and engineering services to the U.S. missile defense and national security markets.

In a statement, Cobham said that changes to U.S. government conflict-of-interest rules and the competitive intensity in its markets “have diluted the strategic benefit to the Group of owning this business.”

Pasadena, Calif.-based Parsons, which has annual sales of about 2.7 billion pounds ($4.25 billion), provides engineering, construction, technical and management services. It already serves a number of national security customers.