3rd Dec 2020 16:04
Qinetiq Group PLC - multinational defence technology company - Reaches agreement to sell OptaSense Holdings Ltd to Luna Innovations Inc for a cash consideration of GBP29 million. The decision to divest OptaSense is a strategic choice to allow increased focus on its core capabilities, Qinetiq adds.
"QinetiQ created OptaSense in 2008 and it has become a global leader in distributed fibre optic sensing solutions, delivering decision-ready data in multiple vertical markets, including pipelines, oil and gas, border and perimeter security, transportation, and power and utilities," company adds.
In the year ended March 31, 2020 OptaSense generated revenue of GBP24.2 million and has been reported within Global Products, Qinetiq notes.
Current stock price: 306.02 pence
Year-to-date change: down 14%
By Paul McGowan; [email protected]
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