TP Group sells Northstar software to QinetiQ

1st Apr 2022 16:10

(Sharecast News) - TP Group announced on Friday that it has agreed to sell its Northstar autonomous navigation software to QinetiQ for cash consideration of £0.6m.

The AIM-traded firm said the disposal followed the strategic review of its consulting and software capabilities in relation to its wider strategy, which it announced on 1 November.

"The disposal will result in the Northstar software, and its development team, being transferred to QinetiQ effective 1 April," the board said in its short statement.

At 1421 BST, shares in TP Group were down 5.71% at 2.31p.

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