QinetiQ to acquire analytics firm Avantus Federal for USD590 million
Summary
The acquisition is expected to generate a tax benefit of USD70 million, and strengthen QinetiQs capabilities in information solutions, mission services and national security. "This acquisition is an important step in the execution of QinetiQs five-year ambitions to expand our presence in the US, the largest security and defence market in the world. Avantus significantly enhances our US offering and provides a strong platform from which to further grow our US operations. Avantus has a track record of high growth at attractive margins and is well-positioned across priority areas for key defence and intelligence customers in the US. We have a high confidence plan to integrate Avantus in order to deliver our global growth strategy," said Chief Executive Officer Steve Wadey.