QinetiQ has announced completion of the acquisition of Manufacturing Techniques Inc. (MTEQ).
According to the firm:
“MTEQ is a leading US provider of advanced sensing solutions with a strong reputation for mission-led innovation, rapidly developing and fielding operationally relevant solutions to deliver information advantage to the warfighter.
The acquisition of MTEQ delivers a number of strategic benefits to QinetiQ including strengthening our international growth and innovation strategy whilst accelerating our growth in the US, the world’s largest defence market.”
More details on the acquisition of MTEQ can be found here.
According to a news release, the “Strategic rationale” for the purchase is as follows:
- Delivers next-generation sensor solutions, which are in increasing demand to counter emerging threats in the modern battlespace
- Drives a customer-centric approach to rapidly innovate and field new capabilities
- Investing to improve profitability and win longer-term programmes
- Creates a US operation of c.$300m and c.750 employees, which will deliver solutions critical to next generation warfighting capability through the combination of MTEQ’s expertise in advanced sensors with our existing capabilities in robotics and autonomy
- Transitions MTEQ’s sensors solutions into larger production programmes, leveraging our manufacturing capabilities in the US
- Deepens our US Army relationship and broadens our US customer base