Qinetiq targets more acquisitions in the US

Source Times Online:

Qinetiq, the UK defence contractor, said today it was eyeing more acquisitions in the US after seeing a surge in demand for a bomb disposal robot used by the US military in Iraq and Afghanistan.

Orders for the Talon robot range, which are used to locate and remotely disable roadside bombs, helped push the group’s organic revenues in North America up by nearly 18 per cent in the year to March 31.

Qinetiq said it continued to expect revenue growth in North America to outpace the growth in the US defence budget and that it was looking for more deals.

The group made five acquisitions on the other side of the Atlantic last year, mainly in the robotic and homeland security market, and has a war chest of more than £200 million.

Economy In Crisis relies on financial support from its readers. Learn more.

Your endorsement is greatly appreciated. Click here for other ways to get involved.