StockMarketWire.com - QinetiQ Group said it had agreed to acquire military training systems provider Inzpire Group for £23.5m.

The deal would involve QinetiQ acquiring 85% of Inzpire immediately, with the remaining 15% to be bought in two years' time.

Inzpire was a provider of operational training and mission systems for military customers in the UK and internationally.

Around three quarters of its revenue came from airborne training and evaluation services, primarily for the Royal Air Force.

The balance came from the sale of aviation mission system products. ranging from standalone tablets to full mission support systems integrated with aircraft avionics.

Inzpire was expected to deliver £13.3m revenue and £2.0m of adjusted Ebita in the financial year to 31 August.




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