HAMPSHIRE defence specialist HVR Consulting Services has been snapped up in a £13m deal by acquisition hungry science and technology group Qinetiq.

Alton-based HVR, which had a turnover of £9.1m last year and employs 95 ex-military staff, will be run as essentially a company apart, with just two Qinetiq managers getting a seat on the board.

Qinetiq, which has a £795.4m turnover, has paid an initial £9.2m for HVR, which could rise to £13m depending on performance.

"Our strong financial performance since we moved into the private sector, especially the significant increase in our cash flow last year, has allowed us to grow by acquisition in the UK as well as organically," explains Qinetiq's Mike Goodfellow, managing director of Integrated Services.

"HVR meets our firm criteria for acquisitions in the UK. It is profitable and successful in its own right, has a strong management team and complementary technical skills."

HVR chief executive Peter Cook said: "We are looking forward to working closely with Qinetiq.

"Our complementary skills base means that we can augment their offering with our expertise in fields such as project engineering, risk assessment, cost analysis and forecasting."