The independent technology group paid €3.974mln for the stake, which represents the second stage of an acquisition process that began in 2015.
The Portuguese government holds the remaining 20%.
EID has been performing well: Andrew Thomas
“With a good pipeline and exciting growth opportunities in the remainder of our financial year, we look forward to benefiting further from the strong customer relationships, high-quality products and excellent people that EID brings to the group.”
The acquisition is being funded from existing cash resources and debt facilities.
Cohort on track for year
Cohort remains on track to meet expectations for the year ending 30 April 2018.
On 13 December the group will release an interim statement for the six months ended 31 October.
In terms of the acquisition, Cohort has agreed that the Portuguese government will retain rights to protect its shareholding.
These include protecting the interests of the state, including the right to appoint a director to EID’s board.
EID serves global defence and security market
EID designs and manufactures a range of equipment for the global defence and security market.
This includes advanced, high performance command, control and communications equipment.
Customers include the Royal Navy and other NATO navies, including those of Portugal, the Netherlands, Spain and Belgium.
Cohort believes the acquisition of EID fulfils its goal of seeking agile, innovative businesses operating in the defence and security sectors with growth potential and a degree of sustainable competitive advantage.
Cohort employs around 800 core staff
Cohort’s headquarters are in Berkshire and employs around 800 core staff there and at its other operating sites in Bristol, Cambridgeshire, Devon, Lincolnshire, Somerset, Surrey, Scotland and Portugal.
As well as EID, Cohort is the parent company of three other businesses working primarily with defence, wider government and industry clients.
MASS is a specialist defence and technology business, focused mainly on electronic warfare, information systems and cybersecurity.
MCL is an expert in sourcing, design and integration of communications and surveillance technology.
SEA is an advanced electronic systems and software house operating in the defence, transport and offshore energy markets.