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QinetiQ buys software group for £9.85m
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Date: Monday 13 Oct 2008
LONDON (ShareCast) - Defence and security firm QinetiQ is to acquire tender assessment and management software group Commerce Decisions for a total of £9.85m.
The acquisitions of the Oxford-based company will strengthen Qinetiq’s consultancy business, QinetiQ said.
Commerce Decision’s AWARD tender evaluation software is used to support the tender assessment and management process for buyers and suppliers.
“Commerce Decisions' expertise in complex assessment strengthens QinetiQ's consulting offering and complements our portfolio in capability definition and acquisition support,” Clive Richardson, chief operating officer of Qinetiq in Europe, Middle East and Australasia, said.
“I am delighted to welcome their management team and employees to QinetiQ and am confident they will make a significant contribution to the continued growth of our advisory business.”