19 November 2021
QinetiQ reports ‘unsuccessful acquisition activity'
by Marc Selinger
QinetiQ Group conducted an “unsuccessful acquisition activity” in the first half of fiscal year (FY) 2022, according to the UK-based defence contractor.
QinetiQ did not identify its acquisition target; however, it reported that it incurred GBP4.1 million (USD5.5 million) in costs for the activity. “It was a very big focus earlier in the year for us,” chief financial officer David Smith said on 11 November.
Despite the unrealised purchase, QinetiQ remains committed to pursuing mergers and acquisitions (M&A) “in a number of geographies”, especially in the United States, Smith told analysts.
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QinetiQ Group conducted an “unsuccessful acquisition activity” in the first half of fiscal year (FY)...
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