logo-loader
viewQinetiQ

QinetiQ to sell underwater systems business in Dorset to Atlas Elektronik

no_picture_pai.jpg

QinetiQ Group (LSE: QQ.) announces that it would sell its underwater systems business in Dorset to Atlas Elektronik, which is jointly owned by ThyssenKrupp and EADS.


Atlas Elektronik will pay £23.5 million in cash for the business, which employs approximately 220 people and operates in the hydro-acoustics, sonar, and other maritime related areas primarily for the UK Ministry of Defence.


QinetiQ said the transaction was in line with its ambition to refocus on higher growth investments.

Quick facts: QinetiQ

Price: 340 GBX

LSE:QQ.
Market: LSE
Market Cap: £1.93 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Minera Alamos announces 14-million-dollar deal with Osisko Gold Royalties to...

Minera Alamos (CVE: MAI) President Doug Ramshaw joined Steve Darling from Proactive Vancouver on Skype with details about a deal they have signed with Osisko Gold Royalties to help fund construction on their Santana project in Mexico. Ramshaw telling Proactive how the deal will work and the...

10 hours, 37 minutes ago

RNS

Holding(s) in Company

1 week, 2 days ago

Interim Results

3 weeks, 2 days ago

Director/PDMR Shareholding

3 weeks, 4 days ago

2 min read