24th Oct 2007 11:46
QinetiQ Group plc24 October 2007 QinetiQ Group plc24 October2007 QinetiQ announces UK security acquisition QinetiQ Group plc announces today that it has completed the acquisition ofBoldon James Holdings Limited ('Boldon James') from ISIS Equity Partners, themanagement team and other staff who hold shares following the exercise ofoptions. The acquisition represents the continuing execution of QinetiQ'sstrategy to grow its Europe, Middle East and Australasia (EMEA) capabilities.It has been settled for an initial cash consideration of around £15.7m, with afurther payment of around £4.3m depending on the achievement of specificperformance criteria. Boldon James is a UK-based provider of software solutions for high end securemessaging, primarily for military, government and security customers worldwide.In December 2006 the company was named Microsoft's worldwide 'Go to marketpartner' for messaging in defence and homeland security. Its core productscompliment Microsoft Windows, UNIX and Fujitsu VME messaging platforms. The acquisition will enhance QinetiQ's portfolio of security based softwareproducts, providing additional routes to market in the USA, Europe and the AsiaPacific regions and broadening its customer base. Bolden James' principalcustomers are international systems integrators, such as EDS, EADS, IBM, Fujitsuand Steria, through which they provide their products. Other customers or endusers include the UK's Ministry of Defence, the German Bundeswehr and the USDepartment of Defense, and numerous other government departments worldwide. Boldon James employs around 70 people, with offices in Crewe and Maidenhead - ends - For further information please contact: QinetiQ Media Relations: Nicky Louth-Davies +44 (0)7795 290593QinetiQ Investor Relations: Adrian Colman +44 (0)7740 432699 Nicky Louth-DaviesHead of Media & Corporate AffairsQinetiQt: 01252 392809m: 07795 290593www.QinetiQ.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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