TITLE

Qinetiq buys IT company with eye to US expansion

PUB. DATE
March 2007
SOURCE
Electronics Weekly;3/7/2007, Issue 2278, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
24475101

 

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