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

Cal Biesecker By
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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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