9th Aug 2022 09:15
(Alliance News) - Qinetiq Group PLC on Tuesday said it has won a five year contract with the US army, worth up to USD45 million.
Under the contract, which has a one-year base period followed by four one-year option periods, the Hampshire-based science and engineering company will support the US army's DAVCOM C5ISR Fort Belvoir prototyping integration facility.
Notably, Qinetiq will provide technical services for system development, fabrication, sensor and system integration, prototyping of multi-function sensor suites, and technology assessment efforts.
Qinetiq said that the contract is the "largest significant win" for its US leadership team to date and is focused on driving short-term operational performance and organic growth.
"This success demonstrates our strategy is working and provides further confidence as we prepare for the integration of our recently announced acquisition of Avantus Federal LLC," the company added.
On Friday, Qinetiq announced that it has agreed to acquire Avantus, a cyber, data analytics and software development services provider to US Federal agencies, for an enterprise value of USD590 million. The deal is conditional on regulatory clearances in the US, and is expected to be completed by the end of 2022.
Qinetiq shares were up 1.9% to 388.20 pence each in London on Tuesday morning.
By Sophie Rose; [email protected]
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