Farewell to Meggitt Training, hello InVeris
Meggitt continues to shed its interests in the training and simulation industry
Meggitt Training Systems Inc (MTSI) has been sold to Pine Island Capital Partners for $146 million and as a result, MTSI has been rebranded as InVeris Training Solutions.
Parent company Meggitt’s share price dropped off a cliff in March due to COVID-19, falling from 690p to 223p and slumping to 217p on 1 April before recovering slightly.
Since selling aerial target specialists Meggitt Target Systems to QinetiQ in 2017, the UK-based aerospace and defence group seems to have lost interest in the training market.
As well as divesting itself of MTSI, other attempts by Meggitt to counter the economic effects of
Already have an account? Log in
Want to keep reading this article?
Read this Article
Get access to this article with a Free Basic Account
- Original curated content, daily across air, land and naval domains
- 2 free stories per week
- Personalised news alerts
- Daily and weekly newsletters
Unlimited Access
Access to all our premium news as a Premium News 365 Member. Corporate subscriptions available.
- Original curated content, daily across air, land and naval domains
- 14-day free trial (cancel at any time)
- Unlimited access to all published premium news
More from Military Training & Simulation Special Report
-
![Joint Israeli Navy-NATO exercise to develop maritime medical procedures]()
Joint Israeli Navy-NATO exercise to develop maritime medical procedures
The latest casevac capacity-building demonstration is the most complex to date, following previous exercises in 2018 and 2019.
-
![Elbit supports Romanian trainer aircraft]()
Elbit supports Romanian trainer aircraft
IAR-99 fleet to receive new avionics from Israeli company
-
![RNZAF orders P-8 training systems]()
RNZAF orders P-8 training systems
The RNZAF has ordered a range of equipment for its P-8A Poseidon fleet under the FMS process, with deliveries scheduled for January 2024.
-
![Project Anywhere creates cloud-based simulation database]()
Project Anywhere creates cloud-based simulation database
Epic Games led a team comprising Microsoft, Cesium and NVIDIA to demonstrate cloud-based simulation. Known as Project Anywhere, the demonstration occurred during vIITSEC.
-
![SPEAR is put to use in Checkered Flag as Cubic claims first customer]()
SPEAR is put to use in Checkered Flag as Cubic claims first customer
Cubic has sold SPEAR to an unnamed US ally, having assisted the USAF in transitioning from the legacy ICADS system.
-
![USN picks support for Tomahawk weapon control system]()
USN picks support for Tomahawk weapon control system
Contract supports NSWC training activities related to Tomahawk
