Qinetiq buys IT company with eye to US expansion

March 2007
Electronics Weekly;3/7/2007, Issue 2278, p12
Trade Publication
The article reports that Qinetiq PLC is acquiring ITS Corp. for $90m and has sold its air filtration systems subsidiary to Donaldson Co. for $39m. Qinetiq will initially pay $80m and a further $10m deferred payment will be made depending on performance targets of the business. Qinetiq's chief executive officer, Graham Love, said that the ITS acquisition will allow Qinetiq to bid for a wider range of contracts in the U.S. defense and security markets.


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