26th Jun 2007 16:06
QinetiQ Group plc26 June 2007 QinetiQ Group plc Tuesday 26 June 2007 Acquisition of 3H Technology QinetiQ Group plc announces today that its US subsidiary Apogen Technologies Inc. has completed the acquisition of 3H Technology LLC, a specialist IT companywith US government and commercial clients, for up to $52.0m. The acquisition of 3H Technology will be settled for an initial cash consideration of $50.0m, with an additional contingent consideration of up to$2.0m payable 18 months after completion. Based in the Washington DC area, 3H Technology specialises in providingnetworking, software development, programme management and process improvementservices to both federal agencies and commercial clients. The company'sacquisition extends QinetiQ's customer base. 3H Technology's existing customers include the Department of Homeland Security, the US Navy, the US Army,the Department of Health and Human Services and the US Department of the Treasury. 3H Technology is a privately-held US company employing 220 people, and had revenues of $33.4m for the 12 months ended 31 December 2006. (ends) For further information please contact: Adrian Colman, Investor Relations +44 (0) 1252 395366 +44 (0) 7740 432699 Nicky Louth-Davies, Media Relations +44 (0) 1252 392809 +44 (0) 7795 290593 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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