Lincoln-based Inzpire Limited (Inzpire) has announced Monday 22 October, that QinetiQ Group plc (QinetiQ) has agreed to become a majority investor in the company, with an 85% share ownership (with the agreement to acquire the remaining 15% after two years).
The two founders of Inzpire – Mr Hugh Griffiths and Mr Mark Boyes – will continue in their roles as Chief Executive Officer and Chief Technology Officer respectively, with a view to driving continued growth both nationally and internationally, enhanced by the backing and support of QinetiQ.
QinetiQ offers excellent long-term prospects for Inzpire, endorses Inzpire’s vision of becoming the most trusted and respected defence company in the world and is fully supportive of Inzpire’s desire to retain operational independence. Inzpire’s service delivery will continue in its current guise, with no impact on current contractual obligations or change to the award-winning culture and ethos of the business.
With support from QinetiQ, Inzpire have an exciting opportunity to expand its product and service offerings to a wider international audience, taking advantage of improved financial investment and well established distribution channels around the world. The companies will work in partnership together to exploit operational synergies spanning areas including Mission Data, Human Factors, Simulation, Test and Evaluation, Mission Systems and Flight Operations.
Inzpire’s CEO, Mr Hugh Griffiths, said: “QinetiQ has been chosen as Inzpire’s new majority investor because they offer excellent opportunities for both our business and our people. QinetiQ really understands what makes Inzpire special and is fully committed to preserving and protecting our employees, culture, values and ethos. Our brand and identity, which we have worked so hard to establish as a disruptive SME over the last 13 years, will be retained.
“This investment is excellent news for us and will benefit Inzpire in a number of tangible ways, allowing us to expand the products and services that our highly experienced team already deliver to our customers”.
Mr Steve Wadey, QinetiQ CEO, said: “Over the past 13 years, Inzpire has become one of the most trusted names in UK defence. This trust is built on their rigorous customer focus, positive culture and their peoples’ extensive experience. Being deeply embedded with their customers, Inzpire provides training and services that are critical to maintaining and building defence capability.
“Our investment enhances our overall offer in defence operational training and mission systems, both in the UK and internationally. Defence operational training represents an area of significant growth as customers around the world increasingly recognise the need to enhance their training capabilities cost effectively. The combination of Inzpire and QinetiQ’s capabilities, complemented by our previous acquisitions, creates a leading provider of critical defence training.”