REG - QinetiQ Group plc - Divestment of US Federal IT Services

QinetiqAnnouncement

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RNS Number : 8539U  QinetiQ Group plc  12 August 2025

News release

____________________________________

QinetiQ Group plc

 Divestment of US Federal IT Services

 

12 August 2025 - QinetiQ Group plc ("QinetiQ" or the "Group") today
announces that as part of its US restructuring programme, it has reached an
agreement to sell its non-core Federal IT Services business consisting of data
and cyber services to V2X for an EV consideration of $31m, representing
approximately 1x revenue. The transaction is expected to complete before the
end of September.

The divestiture demonstrates the disciplined execution of our strategy and
capital allocation policy in action. The proceeds from the sale of the
non-core asset will support our ongoing buyback programme and reduce net debt.
This disposal also reinforces the clear focus of our renewed US growth
strategy on four core market segments, where we see increasing demand and have
differentiated capability; maritime systems, advanced sensors, space and
missile defence mission support and persistent surveillance. Each of these
market segments has good long-term growth potential and together represent the
majority of our revenue in the US.

About QinetiQ:

QinetiQ is an integrated global defence and security company focused on
mission-led innovation. QinetiQ employs c.8100 highly-skilled people,
committed to creating new ways of protecting what matters most; testing
technologies, systems, and processes to make sure they meet operational needs;
and enabling customers to deploy new and enhanced capabilities with the
assurance they will deliver the performance required.

For further information please contact:

Stephen Lamacraft, Interim Group Investor Relations Director:
        +44 (0) 7471 885817

Stephanie Mann, Group Head of Media Relations:
             +44 (0) 7770 720268

 

 

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