QinetiQ Enters Australian Defence Arena
QinetiQ Group Plc has signed agreements to purchase two Australian defence consulting businesses: Ball Solutions Group Pty Ltd. and Novare Services Pty Ltd. The companies are being acquired for a total cash consideration of A$20 M and are subject to Australian and US Government regulatory approval. This is expected to be completed by the end of February 2008, after which the companies will trade as QinetiQ Consulting Pty Ltd.
The acquisitions are QinetiQ’s first investment in Australia and are the latest execution of the company’s continuing strategy to grow its Europe, Middle East and Australasia (EMEA) capabilities. Ball Solutions and Novare Services provide QinetiQ with a presence of 185 staff located in Canberra, Sydney, Melbourne, Brisbane and Adelaide. They will enhance the company’s portfolio of defence- and security-based expertise, provide additional routes to market, and broaden its customer base through existing relationships and contractual arrangements.
Ball Solutions Group is a provider of professional and consulting services, primarily to the Australian Department of Defence. It has annual revenues of A$29 M and operates in three main areas: business systems and applications, data acquisition and management, and operations research and analysis.
Novare, which has annual revenues of A$6.1 M, provides engineering and logistics services to the Australian Department of Defence, its prime contractors and selected commercial partners. Its core expertise is in aerospace systems, advanced technical data management, and performance-based contracting and explosive ordnance and weapons.