4th Oct 2023 09:54
(Alliance News) - Qinetiq Group PLC on Wednesday said it has won a USD127 million contract with the US Office of the Secretary of Defense's Strategic Capabilities Office.
The Farnborough, Hampshire-based defence technology company said the contract, which will run for a five-year period, is to provide "secure technologically advanced services and products that will enable SCO to deploy new and enhanced capabilities in support of strategic operations."
The firm said the deal will build on its relationship with the SCO, and will help the office to develop disruptive applications of new systems in order to counter its strategic adversaries.
Qinetiq said the contract win comes after a USD225 million contract signed in August with the US Space Development Agency to provide mission support. It said these contracts underpin its 10% annual revenue growth target.
Chief Executive Steve Wadey said: "The award of this new contract is evidence of our US business continuing to deliver against our ambitious growth plan. The capabilities we acquired with Avantus last year are highly relevant to our customers and provide key services in support of their mission to solve some of the most complex national security challenges."
Qinteiq shares fell 1.4% to 309.09 pence each on Wednesday morning in London.
By Harvey Dorset, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.