QinetiQ is to buy Virginia, USA-based sensor technology company Manufacturing Techniques in a US$105 million deal.
Manufacturing Techniques (MTEQ) develops advanced sensing solutions that integrates outputs from multiple sensors to provide information that enables operational advantages in the modern battlespace. The company employs 360 people and has strong customer relationships with the US Army and supports a number of its modernization priority programs.
The acquisition more than doubles the size of QinetiQ’s operations in the USA. QinetiQ said the acquisition will deliver solutions for next generation warfighting capability through the combination of MTEQ’s expertise in advanced sensors and its existing capabilities in robotics and autonomy
Steve Wadey, CEO of QinetiQ said, “The acquisition of MTEQ is a significant step towards achieving our ambition to build an integrated global defence and security company, more than doubling the size of our operations in the largest defence and security market in the world.
“MTEQ is a growing business that is thriving because of its ability to apply state-of-the-art sensing technology to enhance information and intelligence that are so critical to modern warfare.”
Mary Williams, MTEQ president and CEO said, “We are excited to be joining QinetiQ, a company renowned for its technical expertise. The combined businesses will have a leading position in technologies that are critical to next generation warfighting capabilities, enabling us to offer solutions to ever more complex and challenging customer requirements.
“Most importantly for me, QinetiQ and MTEQ share a common philosophy of partnership and collaboration with our customers, which will continue to be the foundation for our future success.”
The acquisition is subject to regulatory approval and is expected to close next year.