QinetiQ completes acquisition of Air Affairs Australia
6 December 2022
Following the acquisition, Air Affairs Australia will become a wholly owned subsidiary of QinetiQ Australia.
QinetiQ has confirmed that the company has completed the acquisition of Air Affairs Australia, with the business now set to become a subsidiary of QinetiQ Australia.
The confirmation follows an announcement on the 4th of October 2022 that the companies had reached an agreement over the acquisition.
Air Affairs Australia provides air threat representation, test and evaluation, unmanned targets and mission rehearsal for Defence.
It also provides aerial surveillance and reconnaissance support to government firefighting efforts.
The acquisition is expected to strengthen QinetiQ Australia as a market leader in threat representation, training, test and evaluation.
According to Steve Wadey, group chief executive officer of QinetiQ, the acquisition will enhance the company’s revenue stream.
“The acquisition further strengthens our long-term strategic partnership with the Australian Defence Force and underpins our market leading position in T&E and air threat representation globally,” Wadey explained.
“The acquisition is an excellent strategic and cultural fit that grows our revenues in Australia by 40 per cent, and further reinforces the focus of our growth strategy on our six distinctive offerings in our three home countries, delivering mission critical solutions for our customers.”
Air Affairs Australia employs some 180 people, with the company’s headquarters in Nowra, NSW.
The acquisition will strengthen the company’s services to defence, Greg Barsby, managing director of QinetiQ Australia, said.
To deliver its fundamental support to government, Air Affairs owns and operates a fleet of special mission aircraft and supports an advanced manufacturing and engineering facility.
“It’s the beginning of a new era for all of us at Air Affairs Australia as we join the QinetiQ family. We are looking forward to working together to deliver even greater value to our Defence and industry customers,” Chris Sievers, chief executive officer of Air Affairs Australia, said.
Source: Defence Connect