QinetiQ buys training group Inzpire for £23.5m

Defence company QinetiQ said it had agreed buy 85% of Inzpire Group, with an agreement to acquire the rest after two years, for a total of £23.5m.

Inzpire, which provides operational training and mission systems for military customers in the UK and internationally, is expected to deliver £13.3m revenue and £2m of adjusted underlying earnings in the financial year to 31 August 2018.

About three quarters of Inzpire's revenue comes from airborne training and evaluation services, primarily for the Royal Air Force, QinetiQ said.

The balance is from the sale of aviation mission system products ranging from standalone tablets to full mission support systems integrated with aircraft avionics.

QinetiQ chief executive Steve Wadey said the investment “enhances our overall offer in defence operational training and mission systems, both in the UK and internationally”.

“Defence operational training represents an area of significant growth as customers around the world increasingly recognise the need to enhance their training capabilities cost effectively.”