Defence technology company QinetiQ Group plc (QQ.L) said Thursday that it has agreed to sell Boldon James Limited to HelpSystems International Limited for a consideration of 30 million pounds.
Boldon James, a provider of data classification and secure email messaging solutions, generated revenue of 9.1 million pounds in the year ended 31 March 2020.
QinetiQ acquired Boldon James in 2007 and has reported it within Global Products.
QinetiQ said its decision to divest Boldon James was a strategic choice to enable increased focus on its core capabilities to deliver mission-led innovation. The cyber and information domain remains a strategic growth area for QinetiQ, where the company sees good opportunities.
Results International acted as exclusive financial advisor to QinetiQ.
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