QinetiQ
Qinetiq is a British global defence technology company
2001 Qinetiq was formed from the greater part of the former UK government agency, Defence Evaluation and Research Agency (DERA), when it was split up in June 2001 (with the smaller part becoming DSTL).
Its major sites are Farnborough, Hampshire, MoD Boscombe Down, Wiltshire, and Malvern, Worcestershire where it is the largest single employer in the area.
2001 When Defence Minister Lewis Moonie announced the creation of Qinetiq, he said that it would remain a British company based in the UK. The MoD would keep a 'Special Share' in the company, and safeguards would be in place to prevent conflicts of interest.
In February 2003, the U.S. private equity firm the Carlyle Group acquired a 33.8% share in the company for £42M. Prior to stock market flotation, ownership was split between the MoD (56%), Carlyle Group (31%) and staff (13%). The Carlyle Group was expected to invest for three to five years, after which a stock exchange float would take place.
In September 2004 Qinetiq acquired the U.S. defence companies Westar Corporation and Foster-Miller (maker of the Talon robot).
Also in 2004, it acquired HVR Consulting Services Ltd. a leading UK based engineering consultancy.
In early August 2005, the company announced it would acquire Apogen Technologies, Inc., pending regulatory approval. The Qinetiq website lists this merger as costing $288.0m (£162.7m).
In September 2005, it acquired a 90% share of Verhaert Design and Development NV (VDD), the Belgian space systems integrator.
In October 2005, it acquired Broadreach Networks Limited, a supplier of Wi-Fi internet to the European rail industry
In February 2006, it bought Graphics Research Corporation Ltd, developer of the Paramarine software suite of ship and submarine design tools
2015 QinetiQ Group plc. Revenue £764m. Works in the areas of Defence, Security, Aerospace and Commercial. Total of 6,250 employees. Main sites at Boscombe Down, Farnborough and Malvern. [1]
See Also
Sources of Information
- [1] Wikipedia