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QinetiQ To Acquire Defense Company MTEQ, Doubling Size Of U.S. Operations

QinetiQ To Acquire Defense Company MTEQ, Doubling Size Of U.S. Operations
QinetiQ's U.S. business' unmanned systems include the TALON tactical robot. Photo: QinetiQ

Britain’s QinetiQ on Wednesday said it has agreed to acquire the U.S. defense company Manufacturing Techniques, Inc. (MTEQ) for $105 million in cash, a deal that would double the size of the United Kingdom-based company’s operations in the U.S. Terms of the deal also include an earn-out provision of up to $20 million in cash and shares contingent on MTEQ meeting certain financial targets over three years. The acquisition is expected to close during the second half of QinetiQ’s fiscal…

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