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QinetiQ To Buy Military Training Provider Inzpire For GBP 23.5 Mln

QinetiQ Group plc (QQ.L), a defense, security and aerospace company, announced Monday that it has agreed to acquire 85% of the shares of Inzpire Group Limited, with an agreement to acquire the remaining 15% after two years, for a total consideration of 23.5 million pounds.

Inzpire is a provider of operational training and mission systems for military customers in the UK and internationally. Approximately three quarters of its revenue comes from airborne training and evaluation services, primarily for the Royal Air Force.

Inzpire has a five-year track record of consistent revenue growth, and is expected to deliver 13.3 million pounds revenue and 2.0 million pounds of adjusted EBITDA in the financial year to August 31, 2018.

Inzpire is growing internationally, working for the European Defence Agency and customers in the Middle East.

QinetiQ said that Inzpire creates cost effective mission control systems that are disrupting a market traditionally dominated by large defence contractors. In addition to access to capital for growth, this strategic investment provides Inzpire with access to QinetiQ's missions systems capabilities to enhance and broaden its differentiated offerings.

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