QinetiQ acquisition of MTEQ
QinetiQ more than doubled its US business by buying MTEQ, a Virginia-based provider of advanced sensing solutions to the US Army.
- Company
- Manufacturing Techniques Inc. (MTEQ)
- Type
- M&A
- Status
- Completed
- Date
- 20 Dec 2019
- Value
- US$105m
- Value basis
- US$105m cash on a cash-free, debt-free basis, plus an earn-out of up to US$20m in cash and shares over three years
- Region
- US
- Segment
- Defence electronics
Parties
- QinetiQ buyer
Key terms
- Earn-out
- Up to US$20m over three years
- Target (12 months to Aug 2019)
- US$167.4m revenue, US$11.4m EBITDA, 360 staff
- Announced
- 2 Oct 2019
Sources
- QinetiQ RNS: acquisition of MTEQ investegate.co.uk · 2 Oct 2019
- QinetiQ RNS: completes acquisition of MTEQ investegate.co.uk · 20 Dec 2019
Record DEF-INV-2019-0011. Investments are kept apart from the financings register and never counted in debt totals.
