QinetiQ has enhanced its test and evaluation business through the acquisition of Meggitt Defence Systems Limited and Meggitt Holdings Canada Inc., known together as Meggitt Target Systems.
The purchase of Canada's provider of unmanned aerial, naval and land-based target systems and services for test and evaluation units was for about $71.03 million on a cash-free, debt-free basis.
Meggitt Target Systems provides target systems to about 40 countries from its operations in the Britain and Canada. It now becomes part of QinetiQ's new International business unit and will be reported within QinetiQ's Global Products division.
"This acquisition accelerates the delivery of our strategic priorities to drive growth of our core capabilities in international markets, and to modernize and strengthen our ability to deliver world-class test and evaluation services," said Steve Wadey, QinetiQ chief executive officer.
"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."
QinetiQ is a science and engineering company and operates primarily in the defense, security and aerospace markets.
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