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QinetiQ Group PLC on Tuesday said it had acquired Air Affairs Australia at the end of November.
The Hampshire, England-based science and engineering company said the purchase was a ‘strategically significant milestone’ following the acquisition of Avantus Federal LLC earlier in November.
‘We are on-track to deliver our long-term strategy to build a world-leading defence and intelligence company providing mission-led, disruptive innovation to our customers across the US, UK, Australia and other customers around the world,’ QinetiQ said.
Air Affairs is an Australian defence services company that specialises in air threat representation, test & evaluation, unmanned targets, and mission rehearsal. The acquisition will increase QinetiQ’s revenue in Australia by 40%, Chief Executive Office Steve Wadey said.
‘I am delighted that we have completed the acquisition of Air Affairs. The acquisition further strengthens our long-term strategic partnership with the Australian Defence Force and underpins our market leading position in T&E and air threat representation globally,’ he said.
QinetiQ shares were up 0.2% trading at 350.20 pence per share on Monday morning in London.
By Harvey Dorset, Alliance News reporter
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