2014

Westar Aerospace & Defense Group, Inc. to Be Acquired by QinetiQ Alliance Will Provide Westar Customers with Access to a Wider Variety

of Technologies



    ST. LOUIS, Sept. 14 /PRNewswire/ -- Westar Aerospace & Defense Group,
 Inc., one of the nation's leading providers of technology solutions to the
 Department of Defense, other government agencies, and aerospace customers,
 announced today that it has agreed to be acquired by QinetiQ (pronounced
 ki' ne tik), one of the world's largest science and technology companies. The
 transaction, valued at approximately $130 million, will provide Westar and
 QinetiQ customers with greater access to a broad range of technologies,
 positioning both firms for growth.
     "This agreement represents a huge opportunity for our customers, our
 employees, and our company," said Rob Topping, president of Westar.  "By
 partnering with QinetiQ, our engineers, software developers, and analysts can
 offer additional technology solutions and meet the evolving needs of the
 Department of Defense and our other customers."
     Under terms of the agreement, Westar will become a wholly owned subsidiary
 of QinetiQ North America, QinetiQ's U.S. operating company, and will remain an
 autonomous member of the QinetiQ Group, retaining Westar's core management
 team, employees, and U.S. facilities. Westar's management will continue to
 report to a separate, independent board of directors.
     "Westar's record of 38 percent annual growth during the last five years
 has been tremendous and we want that team to continue its success," said Dr.
 David Anderson, president and chief executive officer of QinetiQ North
 America. "Westar and QinetiQ are a truly remarkable fit. Both companies are
 unequaled when it comes to commitment, customer service, and technological
 leadership."
     Anderson said the acquisition also opens the possibility of additional
 growth and employment in Westar, from the increased opportunities resulting
 from access to QinetiQ's technology and through QinetiQ's access to fresh
 markets in Europe. The transaction is subject to the customary regulatory
 approvals. Pending such approvals, the transaction is expected to close before
 the end of the year.
     Greg Jones, partner of the Edgewater Funds, which is a significant
 minority shareholder in Westar, said, "This is a great new chapter in the
 company's history and will provide it with additional resources to move
 forward. We're pleased to have helped Westar get to this point."
 
     Headquartered in St. Louis with offices in Washington, D.C. and
 Huntsville, Ala., Westar Aerospace & Defense Group and its operating
 subsidiaries (Aerospace Filtration Systems, Inc., which produces products that
 extend the lives of turbine engines; and Westar Display Technologies, Inc., a
 supplier of image quality measurement and display performance improvement
 products), currently have approximately 900 employees and approximately $140
 million in annual revenue. Founded in 1986, Westar has substantial expertise
 and a proven track record, offering synergistic, broad-based modeling and
 simulation, systems engineering, IT, and programmatic and logistics solutions.
 Visit http://www.westar.com for further information.
 
     QinetiQ is Europe's largest science and technology solutions company,
 employing more than 9,000 staff, including many of the UK's leading scientists
 and internationally acclaimed experts. Founded from the laboratories of the UK
 Ministry of Defense, QinetiQ operates in markets as diverse as information
 technology, telecommunications, electronics, marine, energy, automotive, rail,
 defense, space, health, oil & gas, and aerospace. QinetiQ's extensive
 facilities include indoor and outdoor ranges, wind tunnels, marine testing
 facilities, automotive test tracks, and climatic testing laboratories. Visit
 http://www.QinetiQ.com for further information.
 
 

SOURCE Westar Aerospace & Defense Group, Inc.

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