UK defence technology company QinetiQ announced on 2 October that it has reached an agreement to buy Manufacturing Techniques (MTEQ), a US sensor technology company.
The acquisition will more than double the size of QinetiQ's operations in the United States, the world's largest defence market, boosting the US share of QinetiQ's revenue to about 25%. MTEQ will be integrated with QinetiQ's US-based subsidiary, QinetiQ North America, creating an entity with about USD300 million in annual revenue and about 750 employees.
MTEQ provides "sensing solutions", such as integrating outputs from multiple sensors, while QinetiQ North America works on robotics and autonomy.
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