Wragge & Co LLP Corporate group has advised QinetiQ Group plc on an agreement to sell its underwater systems business to Atlas Elektronik UK for a cash consideration of £23.5 million. In a simultaneous second transaction, it advised on the sale of QinetiQ's calibration business to Trescal Limited for an undisclosed amount.

The underwater systems transaction forms part of QinetiQ's strategy to dispose of certain non-core assets within its EMEA business and relocate capital into higher growth investments. It is expected to complete this summer, subject to regulatory approval.

Corporate partner Baljit Chohan and solicitor Nigel Collins led a cross-firm team. Patrick Duxbury and Yvonne Madawela provided intellectual property advice. Hannah Swindle, Kelly Chapman and Charlotte White advised on employment issues. Kevin Milton, Wahida Rehman, Victoria Perry, Jenny Middlemiss and Catherine Stromdale provided pensions, tax, property, transaction services and commercial advice.

The Wragge & Co team worked alongside QinetiQ's in-house legal and commercial teams.

Nigel Collins said: "Wragge & Co has advised QinetiQ for a number of years as one of its panel law firms. A strong working relationship and understanding of its key business drivers and objectives meant we were well-placed to advise on these important strategic disposals for the client."

QinetiQ's underwater systems business, based in Winfrith, Dorset, specialises in hydro-acoustics sonar, open architecture sonar and combat management systems, acoustic counter measures, submarine signatures, maritime security and the control of unmanned maritime vehicles. The business is a provider to the Ministry of Defence and other defence departments and corporate customers internationally.

Wragge & Co has a long-standing relationship with QinetiQ. Last year, the firm advised on its £9.85 million acquisition of UK-based Commerce Decisions Limited.

Atlas Elektronik GmBH is the parent company of Atlas Elektronik UK, jointly owned by ThyssenKrupp and EADS. Baker & Mackenzie advised Atlas Elektronik.

Trescal is a European specialist in calibration providing a broad range of services for the test and measuring equipment market. Miller Rosenfalck LLP advised Trescal.

Wragge & Co's 70-lawyer Corporate group handles a complete range of corporate finance work, ranging from mergers and acquisitions, private equity, IPOs, joint ventures, public takeovers, share schemes, complex corporate structuring and tax. Operating from offices in London and Birmingham, it specialises in mid-market work for clients ranging from global brands to private companies.

Latest deals include advising AIM-quoted UBC Media Group plc on the disposal of its Commercial Division to NASDAQ-listed Global Traffic Network, Inc and advising De Rigo, Italian parent company of Dollond & Aitchison, on creating the UK's second largest optical chain.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 685 2785, Rebecca Davies on +44 (0)121 685 3819, Gayle Redding on +44 (0)121 685 2708 or Rebecca Lum on +44 (0)121 260 9973

This press release may contain information of general interest about current legal issues, but does not give legal advice.