25th Aug 2020 13:31
TP Group PLC - Reading-based consulting, software and engineering services provider - Buys Osprey Consulting Services Ltd for up to GBP3.5 million in cash. Osprey is a privately owned consultancy with offices in Bristol, Lincoln and Farnborough and in Northallerton, Yorkshire. It consults on safety and air space management, with work in the emerging urban air mobility market. TP says Osprey will bring market presence in military and civil aerospace and growth potential in the management of unmanned aircraft. TP will pay GBP2.25 million initially and up to another GBP1.25 million one year on, funded from existing cash. TP says the acquisition will be earnings accretive in 2021.
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By Tom Waite; [email protected]
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