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News

Qinetiq sells its underwater systems business

QinetiQ : 14 May, 2009  (Company News)
QinetiQ Group plc today announces that it has reached an agreement to sell its underwater systems business based in Winfrith, Dorset to Atlas Elektronik UK for a cash consideration of £23.5m.
The transaction is in line with QinetiQs strategy to dispose of certain non-core assets within its EMEA business and reallocate capital into higher growth investments.

As is normal with such transactions in the UK defence market, the agreement is subject to regulatory approval and is expected to complete this summer.
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