QinetiQ Group has agreed to purchase operational training provider Inzpire Group for £23.5m.
As part of an agreement, QinetiQ will take control of an 85% stake in Inzpire and after two years will acquire the remaining 15% of the shares.
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As a major supplier of training and mission systems for military customers in the UK and across the globe, Inzpire generates nearly three-quarters of its revenue from airborne training and evaluation services, primarily for the UK Royal Air Force (RAF).
The remaining of the company revenue comes from the sale of a number of aviation mission system products, ranging from standalone tablets to full mission support systems integrated with aircraft avionics.
QinetiQ chief executive officer Steve Wadey said: “Our investment enhances our overall offer in defence operational training and mission systems, both in the UK and internationally.
“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.
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By GlobalData“The combination of Inzpire and QinetiQ’s capabilities, complemented by our previous acquisitions, creates a leading provider of critical defence training.”
With the acquisition, Inzpire will help improve QinetiQ’s training capabilities and will help address the current UK demand for live and synthetic training.
Inzpire chief executive officer Hugh Griffiths said: “This transaction will help us accelerate our progress in delivering a ‘revolution in defence’ and our team are hugely excited about the opportunities this tie-up presents.”
In September, the company collaborated with Discovery Air Defence Services and Leonardo for the development and supply of a customer-centred, low-risk, live air training solution for the UK Ministry of Defence’s Air Support to Defence Operational Training programme.
Earlier this month, QinetiQ Group completed the acquisition of EIS Aircraft Operations for a total cost of €70m on a cash-free, debt-free basis.
