Improbable confirms sale of UK defence business
Improbable’s two most notable efforts in the UK are the MoD’s ‘digital backbone’ and its role in the Raytheon UK-led Omnia Training CTTP bid. (Photo: UK MoD/Crown Copyright)
Improbable will transfer all of its defence business to Luxembourg-based NIOA Capital, including all existing contracts.
Improbable and a group of investors led by NOIA Capital have agreed on terms of a spin-out of Improbable's Defence and National Security business, the companies announced on 5 June.
The transaction includes the transfer of around 70 engineers and modellers, contracts including those with the UK MoD and other business interests, all powered by Improbable’s product, Skyral.
The transaction is expected to conclude in the next six months while it awaits the UK government’s customary approvals processes. The terms of the deal were not disclosed.
Reports about talks between Improbable and industry emerged towards the end of March, when
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