Malvern-based defence and security technology group QinetiQ (QQ.) has acquired Commerce Decisions, a market-leading provider of tender assessment and management software, in a deal worth almost £10 million.
QinetiQ will acquire the equity of Commerce Decisions for a cash consideration of £9.85 million.
Commerce Decisions is a privately-owned, venture capital-backed company with 38 employees in Oxford.
Its AWARD tender evaluation software supports the tender assessment and management process for buyers and suppliers. AWARD ensures procurers make the right buying decision by improving the effectiveness of evaluation and providing an audit trail for decisions. For suppliers, AWARD maximises their win-potential by improving the quality of bids.
In addition to licence sales of AWARD software, Commerce Decisions offers secure hosting, consultancy, training and maintenance services. Its clients include most UK central government departments, the National Health Service and local authorities. The AWARD software is the most used tender evaluation software in the Ministry of Defence.
The acquisition brings significant additional sales opportunities for AWARD through QinetiQ’s existing sales channels in EMEA (Europe, Middle East and Australasia) and North America, Qinetiq said in a statement yesterday.
QintetiQ chief operating officer for EMEA, Clive Richardson, said: “Commerce Decisions’ expertise in complex assessment strengthens QinetiQ’s consulting offering and complements our portfolio in capability definition and acquisition support. 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.”
QinetiQ is a leading international defence and security technology company with more than 8,000 employees in the EMEA region, plus more than 5,500 in North America.
In the year to March 31, 2008, QinetiQ delivered a 19 per cent increase in revenue to £1.366 billion, including organic growth of 8.6 per cent