Lorton, VA (Oct. 8, 2019) – MTEQ announced that they have reached an agreement to be acquired by QinetiQ, a UK-based leading multinational defense technology company and the sixth largest defense contractor in the UK with over $1 billion in annual revenue. For over twenty-five years, MTEQ has been an industry leader advancing the state of ISR and force protection technologies through research and development, prototyping, fielding and sustainment of cutting-edge solutions. MTEQ has been growing at a record pace for the past three years.
The acquisition will create a US operation of 750 highly-skilled employees with access to state of the art engineering and manufacturing facilities and combine MTEQ’s expertise in advanced sensors with QinetiQ’s existing capabilities in robotics, autonomy, and cybersecurity. QinetiQ and MTEQ will continue their singular focus on co-creating sustainable, innovative sensing and targeting solutions with their customers. Together, the new organization will be uniquely positioned to support their customers’ expanding requirements by leveraging a global technology reach and ensuring interoperability across domains and with coalition partners. The acquisition will close within the next six months; MTEQ will then be combined with QinetiQ North America to trade as QinetiQ.
Mary Williams, MTEQ President and CEO, said: “We are excited to be joining QinetiQ, a company renowned for its technical expertise. We have seen their capabilities firsthand while collaborating on projects for US Government customers. The combined businesses will have a leading position in technologies critical to next generation warfighting capabilities, enabling us to offer solutions to evermore complex customer challenges. Most importantly for me, QinetiQ and MTEQ share a common philosophy of partnership and collaboration with our customers, which will be the foundation for our future success.”