Ultra Electronics has agreed to pay £15mn to resolve a UK Serious Fraud Office (SFO) investigation into alleged corruption at its defense operations. The deferred prosecution agreement (DPA), approved by a London judge, requires the company to admit accountability for failing to prevent bribery tied to three public-sector contracts across Algeria and Oman. One deal involved a £200mn Omani transport ministry contract, while Algerian contracts—unsuccessful in securing—targeted airport upgrades and encryption tech for post/telecoms.

Ultra must submit annual compliance reports for three years and pay a £10mn fine plus £4.8mn in SFO costs. Helen Taylor of Spotlight on Corruption warned that such penalties may be absorbed as operational costs in high-risk sectors. This marks the SFO’s 13th DPA since 2014, following cases at Rolls-Royce, Airbus, and G4S. Cobham Ultra, Ultra’s parent company post-2022 Advent acquisition, emphasized the agreement closes “historical conduct predating current management.” The firm, a Royal Navy sonar supplier, is now pivoting toward £3bn Ultra Maritime sales amid rising anti-submarine warfare demand.