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Wednesday, September 28, 2022

QinetiQ to Acquire Avantus Federal

QinetiQ Inc has entered into an agreement to acquire Avantus Federal LLC from NewSpring Holdings, for an enterprise value of $590 million. 

Avantus provides mission-focused cyber, data analytics and software development solutions to the U.S. Department of Defense, Intelligence Community, Department of Homeland Security and other Federal civilian agencies. Avantus has a strong track record of achieving speed-to-mission impact. 

In the 12 months to 30 June 2022, Avantus generated revenues of $298 million, adjusted EBITDA of $35.5 million and adjusted operating profit of $32 million. 

The acquisition will generate a tax benefit for QinetiQ of approximately $70 million. The closing of the acquisition is subject to customary conditions, including regulatory approvals and is expected to close by end of calendar year 2022.

On August 9, the company announced it had won a contract to provide technical services to the U.S. Army. The five year contract, worth up to $45m, will provide services for the Development Command (DEVCOM) Command, Control, Computers, Communications, Cyber, Intelligence, Surveillance and Reconnaissance (C4ISR) at the Fort Belvoir Prototyping Integration Facility (PIF). 

The contract, a 1-year base period followed by four 1-year option periods, will provide technical services for system development, fabrication, sensor and system integration, prototyping of multi-function sensor suites, and technology assessment efforts aimed at supporting current and future DEVCOM C5ISR PIF Belvoir customers.

Read more at QinetiQ

Homeland Security Todayhttp://www.hstoday.us
The Government Technology & Services Coalition's Homeland Security Today (HSToday) is the premier news and information resource for the homeland security community, dedicated to elevating the discussions and insights that can support a safe and secure nation. A non-profit magazine and media platform, HSToday provides readers with the whole story, placing facts and comments in context to inform debate and drive realistic solutions to some of the nation’s most vexing security challenges.

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