Proactive Investors - Run By Investors For Investors

QinetiQ buys military training group Inzpire for £23.5m

The FTSE 250 defence technology firm said the investment would enhance its overall offer in defence operational training and mission systems, both in the UK and internationally
QinetiQ buys military training group Inzpire for £23.5m
QinetiQ sees defence operational training as an area of significant growth potential over the coming years

QinetiQ Group PLC (LON: QQ) has agreed to buy military training systems provider Inzpire Group for £23.5mln.

The deal will see defence technology firm QinetiQ buy 85% of Inzpire immediately, with the remaining 15% to be bought in two years, the defence technology provider said on Monday.

READ: QinetiQ maintains expectations in trading update

QinetiQ said Inzpire, which provides training and mission systems for military customers internationally, expects to deliver annual profit (EBITDA) of £2.0mln in the year on revenues of £13.3mln. Some three-quarters of its revenue comes from airborne training and evaluation services, primarily for Britain’s Royal Air Force. Inzpire also sells aviation mission system products, including full mission support systems integrated with aircraft avionics.

Inzpire is expected to deliver £13.3m revenue and £2.0m of adjusted Ebita in the financial year to 31 August.

"Our investment enhances our overall offer in defence operational training and mission systems, both in the UK and internationally,” QinetiQ CEO Steve Wadey said in a statement.

“Defence operational training represents an area of significant growth as customers around the world increasingly recognise the need to enhance their training capabilities cost-effectively. The combination of Inzpire and QinetiQ's capabilities, complemented by our previous acquisitions, creates a leading provider of critical defence training."

View full QQ. profile View Profile

QinetiQ Timeline

Related Articles

November 20 2018
Borko Moric will succeed Parilla as chief executive officer. Bojan Moric will become the company's chief operations officer

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use