Advent-backed Cobham Group, a global technology and services innovator, completed the acquisition of Ultra Electronics, a British company serving the defence, security, critical detection and control markets, for $3.6bn. "Today’s offer from Cobham reflects the significant progress and value that has been created by the whole Ultra team from our ONE Ultra strategy and from the progress we are making on our Focus; Fix; Grow transformation. The team should be very proud of what they have achieved so far. This combination will enhance Ultra’s prospects through Cobham’s stated intentions to accelerate our transformation, invest in our technology, and to continue to support our customers, operations, communities, and most importantly our talented and committed people," Simon Pryce, Ultra CEO.