Cohort to acquire Chess Technologies for £41.9m.

Cohort, the independent technology group, agreed to acquire Chess Technologies, a UK-based company in integrated fire control and tracking systems for military vehicles and naval ships, for £41.9m ($53.8m). "The acquisition of Chess represents a significant expansion for Cohort, adding a profitable and growing fifth standalone business to our portfolio. It is highly complementary to our core capabilities in defense and security, underpinned by long term contracts with quality global customers and a strong order pipeline, including on long term programs. We believe Chess has great potential and a clear and sustainable competitive advantage, and we are excited about the opportunities that the business can generate as part of the Cohort Group," Andrew Thomis, Cohort Chief Executive Officer.