VDD Makes Space for QinetiQ Share Acquisition
QinetiQ and the Verhaert Group of Belgium have announced the acquisition by QinetiQ of a 90 percent share of Verhaert Design and Development NV (VDD), the leading Belgian space systems integrator, with the option to purchase the remaining 10 percent of shares at a later date. The company will be renamed Verhaert Space NV.
Announcing the deal, Andrew Rogoyski, managing director of QinetiQ’s Space Division, said: “With this deal QinetiQ and Verhaert have created a company that is well placed to bridge the gap that currently exists in the European space industry between the two biggest players and a multitude of smaller suppliers. By combining QinetiQ’s expertise in space missions and technology with Verhaert’s complementary capabilities in small satellites, spacecraft system integration, payloads and instrumentation we believe we can establish ourselves as the leading European mid-tier space company.”
“The deal with QinetiQ represents a huge opportunity for our customers, our employees and our company,” said Paul Verhaert, Verhaert’s CEO. “By partnering with QinetiQ we can better exploit the market trend towards the provision of smaller, low cost, fast-to-launch satellites for government and commercial customers. Through QinetiQ we can also gain access to leading edge technologies that can deliver product innovations to Verhaert’s client base.”