TP Group sells Northstar software to QinetiQ
TP Group
2.20p
16:39 26/01/23
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TP Group announced on Friday that it has agreed to sell its Northstar autonomous navigation software to QinetiQ for cash consideration of £0.6m.
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The AIM-traded firm said the disposal followed the strategic review of its consulting and software capabilities in relation to its wider strategy, which it announced on 1 November.
“The disposal will result in the Northstar software, and its development team, being transferred to QinetiQ effective 1 April,” the board said in its short statement.
At 1421 BST, shares in TP Group were down 5.71% at 2.31p.