Completion of the acquisition of Air Affairs

RNS Number : 6668I

QinetiQ Group plc

06 December 2022

 

News release

QinetiQ Group Plc

Completion of the acquisition of Air Affairs

06 December 2022 - QinetiQ Group plc ("QinetiQ" or the "Company") is pleased to announce that on 30 November 2022 it completed the acquisition of Air Affairs, a leading Australian defence services company in air threat representation, test and evaluation (T&E), unmanned targets and mission rehearsal.

The acquisition of Air Affairs is an exciting step to further build and accelerate QinetiQ in Australia, growing our T&E and threat representation capability globally. The transaction represents another strategically significant milestone for QinetiQ following the completion of the Avantus acquisition in the US in November. We are on-track to deliver our long-term strategy to build a world-leading defence and intelligence company providing mission-led, disruptive innovation to our customers across the US, UK, Australia and other customers around the world.

Since the initial announcement of the acquisition, Air Affairs has continued to perform well. Our integration plan has been fully prepared, and we are now focused on executing the integration to create opportunities for our customers and employees whilst delivering attractive financial returns.

Steve Wadey, Group Chief Executive Officer of QinetiQ, said:

"I am delighted that we have completed the acquisition of Air Affairs. The acquisition further strengthens our long-term strategic partnership with the Australian Defence Force and underpins our market leading position in T&E and air threat representation globally. The acquisition is an excellent strategic and cultural fit that grows our revenues in Australia by 40%, and further reinforces the focus of our growth strategy on our six distinctive offerings in our three home countries, delivering mission critical solutions for our customers."

About QinetiQ

QinetiQ (QQ.L) is a leading science and engineering company operating primarily in the defence and security markets. We work in partnership with our customers to solve real world problems through innovative solutions delivering operational and competitive advantage. Visit our website www.QinetiQ.com . Follow us on LinkedIn and Twitter @QinetiQ.  Visit our blog www.QinetiQ-blogs.com .

For further information please contact :

John Haworth, Group Head of Investor Relations:	[phone]
Lorna Cobbett , Citigate Dewe Rogerson (Media enquiries):	[phone]

 

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