QinetiQ reveals £30m disposal
Posted on June 25, 2020 by Alistair Hardaker
QinetiQ has sold subsidiary Boldon James for £30m to HelpSystems International.
The Farnborough-headquartered security firm said its data classification and secure email messaging solutions arm generated revenue of £9.1m in the year ended 31st March 2020.
Boldon James was acquired by QinetiQ in 2007. It said the decision to divest the firm was “a strategic choice to allow increased focus on our core capabilities to deliver mission-led innovation”.
It added that the cyber and information domain remain a strategic growth area for the company.
“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,” said CEO Steve Wadey.
“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.”