Cohort subsidiary inks sizeable contract with NCI Agency

15th Jul 2024 08:58

(Sharecast News) - Technology group Cohort subsidiary EID has inked a sizeable contract with the NATO Communications and Information Agency.

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