Cohort subsidiary inks sizeable contract with NCI Agency
Cohort
1,120.00p
12:40 24/12/24
Technology group Cohort subsidiary EID has inked a sizeable contract with the NATO Communications and Information Agency.
Aerospace and Defence
11,630.30
12:54 24/12/24
FTSE AIM All-Share
717.40
13:14 24/12/24
Cohort said on Monday that, under the terms of its deal with the NCI Agency, it will supply the Portuguese Army with a tactical deployable communications and information system.
The AIM-listed group noted that the total value of the signed contract was €33.0m, with delivery set to take place over a three-year period.
Chief executive Andy Thomis said: We are delighted that EID has been selected for this important programme. EID is well-known for its communications technology and TDCIS will provide the Portuguese Army with a highly effective, modern system, interoperable with NATO allies.
"Together with recent contracts to provide its integrated communications system to Damen for the Portuguese Navy's multi-purpose vessel and to the Chilean Navy, this win takes EID's order intake to over €45.0m in the last four months."
As of 0855 BST, Cohort shares were up 2.21% at 827.92p.
Reporting by Iain Gilbert at Sharecast.com