QinetiQ Group plc
24 October 2007
QinetiQ Group plc
24 October
2007
QinetiQ announces UK security acquisition
QinetiQ Group plc announces today that it has completed the acquisition of
Boldon James Holdings Limited ('Boldon James') from ISIS Equity Partners, the
management team and other staff who hold shares following the exercise of
options. The acquisition represents the continuing execution of QinetiQ's
strategy to grow its Europe, Middle East and Australasia (EMEA) capabilities.
It has been settled for an initial cash consideration of around £15.7m, with a
further payment of around £4.3m depending on the achievement of specific
performance criteria.
Boldon James is a UK-based provider of software solutions for high end secure
messaging, primarily for military, government and security customers worldwide.
In December 2006 the company was named Microsoft's worldwide 'Go to market
partner' for messaging in defence and homeland security. Its core products
compliment Microsoft Windows, UNIX and Fujitsu VME messaging platforms.
The acquisition will enhance QinetiQ's portfolio of security based software
products, providing additional routes to market in the USA, Europe and the Asia
Pacific regions and broadening its customer base. Bolden James' principal
customers are international systems integrators, such as EDS, EADS, IBM, Fujitsu
and Steria, through which they provide their products. Other customers or end
users include the UK's Ministry of Defence, the German Bundeswehr and the US
Department of Defense, and numerous other government departments worldwide.
Boldon James employs around 70 people, with offices in Crewe and Maidenhead
- ends -
For further information please contact:
QinetiQ Media Relations: Nicky Louth-Davies +44 (0)7795 290593
QinetiQ Investor Relations: Adrian Colman +44 (0)7740 432699
Nicky Louth-Davies
Head of Media & Corporate Affairs
QinetiQ
t: 01252 392809
m: 07795 290593
www.QinetiQ.com
This information is provided by RNS
The company news service from the London Stock Exchange
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