3 October 2022 - acquisition
The engineering and defence group has announced the acquisition of Air Affairs in Australia, a defence company which provides various services to the Australian Defence Force. These include electronic warfare capabilities, aerial surveillance and reconnaissance and ytraining services. The company owns and operates a fleet of special mission aircraft. The acquisition will strengthen Qinetiq's operations in Australia which is one of its key markets alongside the UK and US. The consideration is around £31m. This is being almost totally funded by the sale of Space NV, a commercial space business based in Belgium. Although space . . .
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