24 October, 2007
QinetiQ Group has completed the acquisition of Boldon James Holdings Limited from ISIS Equity Partners, the management team and other staff who hold shares following the exercise of options.
The acquisition represents the continuing execution of QinetiQ’s strategy to grow its Europe, Middle East and Australasia (EMEA) capabilities. It has been settled for an initial cash consideration of around £15.7m, with a further payment of around £4.3m depending on the achievement of specific performance criteria.
Boldon James was established in 1985 by Peter Boldon and Roger James provides message handling systems for the Defence, Civil Aviation, Government and Homeland Security sectors. It's HQ is in Crewe UK with regional offices in Maidenhead UK, Paris, France and Washington, USA.
Acquired by Protek Network Management Limited in 1998, a successful MBO conducted in 2005 with ISIS Equity Partners It has over 60 employees, 80% of which are consultants / technical it partners with the world’s largest Systems Integrators including EDS, Fujitsu, Lockheed Martin and Microsoft. Customers include the world’s Ministries and Departments of Defence, Governments, Civil Aviation Authorities and Homeland Security agencies.
In 2006, the security company became Microsoft’s Global ‘Go to Market Partner’ for Defence Messaging and celebrated 21 years in business.