25th Jun 2020 10:07
(Alliance News) - Science & engineering company QinetiQ Group PLC said Thursday it has agreed to sell Boldon James Ltd, which provides data classification and email messaging services to HelpSystems International Ltd for GBP30 million.
QinetiQ said the sale of Boldon James will allow for increased focus on the group's core capabilities, including the cyber and information domain where QinetQ expects good opportunities.
For the year to the end of March, Boldon James generated GBP9.1 million in revenue.
"Our vision-based strategy to drive growth through mission-led innovation means that we continually review our portfolio of businesses for their contribution to growth within the group. We are therefore delighted to have announced the sale of Boldon James to HelpSystems, who can provide greater synergies and relevant market access to enable their future growth," said Chief Executive Officer Steve Wadey.
Shares in QinetiQ were down 0.6% at 300.20 pence on Thursday in London.
By Dayo Laniyan; [email protected]
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