Future Fibre Technologies, BQT Initiate Merger
FFT, BQT commence merger
FUTURE Fibre Technologies reports that integration activity with owner of BQT MaxSec Group has commenced, with a programme management office (PMO) established under the leadership of an experienced integration director to track the track the implementation of the integration plan and ensure delivery of the merger.
The newly merged group will operate as 2 divisions – the Services Division (AVA) and the Technology Division (FFT and BQT).
According to FFT, Chris Fergus has been appointed group chief executive officer and will be employed under an inter-group services agreement (between FFT and MSP subsidiary AVA Global DMCC). Chris Fergus holds 3,000,000 shares in FFT and a further 200,000 options over FFT shares.
For the past 20 months Fergus has been the CEO of AVA Global, and SVP Strategy and Business Development for MaxSec Group Limited (MSP), as well as serving as an executive director on the board of MSP. He has served as a director of FFT for the past 15 months and was previously employed for 20 years with G4S, most recently as regional managing director, Middle East, managing a portfolio of security & FM joint ventures, with a total revenue in excess of US$1 billion.
“I am excited to lead the merged group as we leverage the combined strengths of our experienced leadership team and innovative products and services to build a sales and marketing focussed global risk management organisation,” Fergus said.
After the merger is complete, Leigh Davis will assume the role of group chief financial officer and Rob Broomfield has been appointed chief operating officer of the Technology Division and Mark Horton has been appointed sales and marketing director of the Technology Division. Geoff Cleaves will remain as chief executive officer of MSP. James Alston and Stefan Dingeldein have been appointed chief operating officer and sales and marketing director of the Services Division respectively.