“It was a pleasure working with Alastair and Richard at Momentum.  They helped us clearly articulate the strategic value of our business, and their advice throughout the process achieved an excellent result for the shareholders, employees and the business.  

They were an invaluable part of our team, guiding us through every step of the process. The advice and service they provided was first rate.”
Paul Omar, Managing Director, Naimuri
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Momentum Corporate Finance announces the completion of its latest transaction, advising the shareholders of Naimuri Limited (‘Naimuri) on their sale to QinetiQ Group plc (QinetiQ) for an Enterprise Value of £25 million on a cash-free, debt-free basis. 

Naimuri is a leading UK software development and data analytics company, providing agile cloud-based services and technology to the UK Intelligence Community and Law Enforcement communities. The business has 75 people and is based in Manchester, UK.

QinetiQ is a leading science and engineering company operating primarily in the defence, security and critical infrastructure markets. 

QinetiQ partners with Naimuri on several critical client programmes delivering mission-led innovation around data-intensive client challenges. The capabilities of data analytics, data intelligence and agile software development are becoming more prevalent across security and defence; QinetiQ intends to use the Naimuri acquisition as a core enabler, and intends to invest and recruit further in this important area.

Momentum Corporate Finance acted as lead advisor on the transaction, with Hill Dickinson providing legal advice to the shareholders of Naimuri.
“We were delighted to advise the shareholders on this transaction. QinetiQ are an excellent strategic buyer for the company and we are looking forward to watching the business continue to grow and flourish as part of the QinetiQ group.

It was pleasing to complete this transaction despite the difficult backdrop created by Covid-19 providing further evidence that deals involving high quality businesses are still being done.”
Alastair Boorman, Partner, Momentum