Qinetiq disposes of Boldon James

Science and engineering group Qinetiq agreed to dispose of software company Boldon James on Thursday.

Qinetiq will sell Boldon James, which provides data classification and secure email messaging solutions, to Minnesota-based software outfit HelpSystems International for £30m.

The FTSE 250-listed firm said the decision to offload Boldon James was "a strategic choice" to allow increased focus on its core capabilities of delivering mission-led innovation.

However, Qinetiq noted that the cyber and information domain remained "a strategic growth area" where it saw "good opportunities".

Chief executive Steve Wadley said: "Our vision-based strategy to drive growth through mission-led innovation means that we continually review our portfolio of businesses for their contribution to growth within the group.

"We are therefore delighted to have announced the sale of Boldon James to HelpSystems, who can provide greater synergies and relevant market access to enable their future growth."

As of 0825 BST, Qinetiq shares were up 0.12% at 302.35p.