1 Apr 2022 07:00
TP Group plc
("TP Group", "the "Company" or the "Group")
Sale of Northstar Autonomous Navigation Software
TP Group (AIM: TPG), announces today that, following the strategic review of the Group's consulting and software capabilities in relation to its wider strategy as announced on 1 November 2021, the Board has agreed to sell its Northstar autonomous navigation software to QinetiQ Limited a subsidiary of QinetiQ Group PLC ("QinetiQ") for a cash consideration of c£0.6m (the "Disposal").
The Disposal will result in the Northstar software, and its development team, being transferred to QinetiQ effective 1st April 2022.
TP Group plc | Tel: 01753 285 810 |
Martyn Ratcliffe, Executive Chairman Derren Stroud, Chief Financial Officer | |
www.tpgroup.uk.com | |
Cenkos Securities plc | Tel: 020 7397 8980 |
Stephen Keys / Mark Connelly / Callum Davidson | |
www.cenkos.com |
TPG.L (TPG)