Salford software and data analytics company acquired in £25m deal
A Salford-based software development and data analytics company has been bought by QinetiQ in a deal worth £25m.
Naimuri provides agile cloud-based services and technology to clients in the UK intelligence and law enforcement sectors, and is forecasting over £9m in revenue and £2m EBITDA for the 12 months to July 31st 2020.
It employs around 70 people and already partners with QinetiQ - which is listed on the London Stock Exchange with 2019 revenues of £911.1m - on a number of projects.
Announcing the deal to the stock market this morning, QinetiQ said: "We will invest and build upon Naimuri's strong capabilities in data analytics, data intelligence and agile software development to meet customer needs and drive growth in both the security and defence sectors."
QinetiQ was formed in July 2001 when the Ministry of Defence split its Defence Evaluation and Research Agency (DERA).