Menu visibility control

Video

Events

Startup Surgery

Most Recent

Investments

Limejump closes £3m Series A to disrupt the energy utility market

News

Mass redundancies at Jinn as startup struggles to succeed in on-demand delivery market

Tech City Voices

Tribunal fees ruled unlawful: How will this impact gig economy firms?

Press Releases

GreenKey Technologies and Red Box Recorders partner to launch integrated trading voice collaboration and compliance recording solution
Leading light in British HealthTech, Network Locum, rebrands to Lantum
SteelEye announces regulatory tech specialist Matt Smith as CEO

Hampshire-based QinetiQ acquires Meggitt Target Systems for £57.5m

defence drones
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

QinetiQ, a defence technology firm based in Hampshire, has acquired Meggitt Target Systems for £57.5m.

Headquartered in Canada, Meggitt Target Systems is made up of Meggitt Defence Systems Limited and Meggitt Holdings Canada Inc. The firm provides unmanned air, land and surface drone vehicle targets for live-fire training and weapon system testing.

The deal will see QinetiQ pay £57.5m on a cash-free debt-free basis for Meggitt Target Systems, which currently claims to provide target systems to approximately 40 countries from its operations in the UK and Canada.

Hampshire-based games developer nDreams raises £2.7m

Steve Wadey, QinetiQ CEO, commented: “This acquisition accelerates the delivery of our strategic priorities to drive growth of our core capabilities in international markets, and to modernise and strengthen our ability to deliver world-class test and evaluation services.”

Meggitt Target Systems will form part of QinetiQ’s international business unit, and it is hoped its global position will open up new routes to foreign markets and accelerate QinetiQ’s international growth.

“Meggitt Target Systems is a distinctive business with a strong management team and employees in Canada and the UK who are experts in the development and delivery of unmanned target systems and services. We know the business well, having worked together for the past decade, and I am delighted to welcome the team to QinetiQ,” Wadey concluded.

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

Limejump

Limejump closes £3m Series A to disrupt the energy utility market
posted 8 hours ago

startup empty office

Mass redundancies at Jinn as startup struggles to succeed in on-demand delivery market
posted 10 hours ago

supreme court

Tribunal fees ruled unlawful: How will this impact gig economy firms?
posted 11 hours ago

urban massage

VIDEO: Urban Massage’s founder on the challenges and joys of growing a tech startup
posted 14 hours ago

London FinTech

UK ‘ranks third for global FinTech VC funding as firms raise $564m in H1 2017’
posted 15 hours ago

Cleo

FinTech startup Cleo gets £2m in round led by LocalGlobe
posted 17 hours ago