UK-based defence technology company QinetiQ Group has acquired 85% of shares of operational training provider Inzpire Group.
As part of the transaction terms announced on 22 October, QinetiQ has completed its strategic £23.5m investment in Inzpire.
In addition, QinetiQ is entitled to acquire the remaining 15% of Inzpire’s shares after two years.
Inzpire operates as a major supplier of training and mission systems for military customers in the UK and across the globe.
Approximately three-quarters of the company’s revenue is generated from airborne training and evaluation services, primarily for the British Royal Air Force (RAF).
The remaining 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.
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The acquisition will help QinetiQ increase its defence operational training capabilities, in addition to supporting the company’s mission systems expertise with a portfolio of disruptive products and providing significant international potential.
Inzpire founders Hugh Griffiths and Mark Boyes will continue to serve the company in their current roles as the chief executive officer and chief technology officer respectively.
Strengthened by the support of QinetiQ, the Inzpire founders intend to retain operational independence of the company and sustain its continued growth both nationally and internationally.
In October, QinetiQ Group successfully completed the acquisition of EIS Aircraft Operations for a total cost of €70m on a cash-free, debt-free basis.