Cohort is to acquire MASS Consultants, the defence systems house with about 100 staff at sites in St Neots and Lincoln, for an initial net consideration of £12.5m. A further £0.5m will be paid subject to MASS winning two named overseas contracts within 24 months of completion. The deal is Cohort's first acquisition since it listed on AIM in March 2006, and the company expects that it will be immediately earnings enhancing. Cohort raised funding of £8.8m for the acquisition through a placing of 6.55 million shares. MASS will operate as an independent unit within the Cohort group, retaining its brand and management team. "The acquisition of MASS is consistent with Cohort’s stated strategy of building an independent business supplying technical services to the defence market. The acquisition will substantially increasethe scale of the group and build its capabilities into new related areas. MASS is an excellent fit with our existing business, and should offer significant opportunities for growth in the future," said Nick Prest, chairman of Cohort.