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Qinetiq acquires Majority Of Verhaert Design And Development
Qinetiq acquired 90 percent of Verhaert Design and Development NV (VDD), a space systems integrator, from the Verhaert Group of Belgium, Qinetiq announced Sept. 1.
The company will be renamed Verhaert Space NV, and Qinetiq has an option to purchase the remaining 10 percent of the company’s shares at a later date.
“With this deal Qinetiq and Verhaert have created a company that is well placed to bridge the gap that currently exists in the European space industry between the two biggest players and a multitude of smaller suppliers,” Andrew Rogoyski, managing director of Qinetiq’s space division, said in a statement. “By combining Qinetiq’s expertise in space missions and technology with Verhaert’s complementary capabilities in small satellites, spacecraft system integration, payloads and instrumentation we believe we can establish ourselves as the leading European mid-tier space company.”
VDD will continue to operate autonomously under its existing management team, and will trade as Verhaert Space operating out of its facilities in Antwerp.
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