REG - QinetiQ Group plc - Completion of the acquisition of Air Affairs

QinetiqAnnouncement

06/12/2022 07:01

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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
(http://www.QinetiQ.com) . Follow us on LinkedIn and Twitter @QinetiQ.  Visit
our blog www.QinetiQ-blogs.com (http://www.QinetiQ-blogs.com) .

For further information please contact:

 John Haworth, Group Head of Investor Relations:             +44 (0) 7920 545841
 Lorna Cobbett, Citigate Dewe Rogerson (Media enquiries):    +44 (0) 7771 344781

 

 

 

 

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