QinetiQ Group plc Disposal of Boldon James to HelpSystems (9988Q)
25 Giugno 2020 - 8:00AM
UK Regulatory
TIDMQQ.
RNS Number : 9988Q
QinetiQ Group plc
25 June 2020
News Release
QinetiQ Group Plc
Disposal of Boldon James to HelpSystems
25 June 2020. QinetiQ today announces it has reached an
agreement to sell Boldon James Limited ("Boldon James") to
HelpSystems International Limited ("HelpSystems") for a
consideration of GBP30m.
Boldon James provides data classification and secure email
messaging solutions, and in the year ended 31 March 2020 generated
revenue of GBP9.1m.
Boldon James was acquired by QinetiQ in 2007 and has been
reported within Global Products. The decision to divest Boldon
James was a strategic choice to allow increased focus on our core
capabilities to deliver mission-led innovation; the cyber and
information domain remains a strategic growth area for QinetiQ
where we see good opportunities.
Steve Wadey, QinetiQ CEO, said:
"Our vision-based strategy to drive growth through mission-led
innovation means that we continually review our portfolio of
businesses for their contribution to growth within the Group. We
are therefore delighted to have announced the sale of Boldon James
to HelpSystems, who can provide greater synergies and relevant
market access to enable their future growth."
Results International acted as exclusive financial advisor to
QinetiQ.
About QinetiQ:
QinetiQ is a leading science and engineering company operating
primarily in the defence, security and critical infrastructure
markets. We work in partnership with our customers to solve real
world problems through innovative solutions delivering operational
and competitive advantage. Visit our website www.QinetiQ.com .
Follow us on LinkedIn and Twitter @QinetiQ. Visit our blog
www.QinetiQ-blogs.com .
For further information please contact:
Reece de Gruchy, Investor Relations: +44 (0)7384 879207
Chris Barrie, Citigate Dewe Rogerson
(Media enquiries): +44 (0)7968 727289
Disclaimer
This document contains certain forward-looking statements
relating to the business, strategy, financial performance and
results of the Company and/or the industry in which it operates.
Actual results, levels of activity, performance, achievements and
events are most likely to vary materially from those implied by the
forward-looking statements. The forward-looking statements concern
future circumstances and results and other statements that are not
historical facts, sometimes identified by the words 'believes','
expects', 'predicts', 'intends', 'projects', 'plans', 'estimates',
'aims', 'foresees', 'anticipates', 'targets', 'goals', 'due',
'could', 'may', 'should', 'potential', 'likely' and similar
expressions, although these words are not the exclusive means of
doing so. These forward-looking statements include, without
limitation, statements regarding the Company's future financial
position, income growth, impairment charges, business strategy,
projected levels of growth in the relevant markets, projected
costs, estimates of capital expenditures, and plans and objectives
for future operations. Forward-looking statements contained in this
announcement regarding past trends or activities should not be
taken as a representation that such trends or activities will
continue in the future. Nothing in this document should be regarded
as a profit forecast.
The forward-looking statements, including assumptions, opinions
and views of the Company or cited from third party sources,
contained in this announcement are solely opinions and forecasts
which are uncertain and subject to risks. Although the Company
believes that the expectations reflected in these forward-looking
statements are reasonable, it can give no assurance that these
expectations will prove to be correct. Actual results may differ
materially from those expressed or implied by these forward-looking
statements. A number of factors could cause actual events to differ
significantly and these are set out in the principal risks and
uncertainties section of this document.
Most of these factors are difficult to predict accurately and
are generally beyond the control of the Company. Any
forward-looking statements made by, or on behalf of, the Company
speak only as of the date they are made. Save as required by law,
the Company will not publicly release the results of any revisions
to any forward-looking statements in this document that may occur
due to any change in the Directors' expectations or to reflect
events or circumstances after the date of this document.
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END
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