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Report: QinetiQ Explores Potential Acquisition Targets Outside UK

Report: QinetiQ Explores Potential Acquisition Targets Outside UK - top government contractors - best government contracting event

Defense technology company QinetiQ Group is eyeing the U.S. and Australia as priority markets under the company’s acquisition strategy, Bloomberg reported Thursday.

QinetiQ CEO Steve Wadey forecasts the two countries will cover approximately 70 percent of new business for the British contractor in the next five years, the report said.

The U.K.-headquartered firm announced in February it holds a spot on a multiple-award framework contract to support the Pentagon’s Joint Artificial Intelligence Center in efforts to develop AI test and evaluation tools.

Australia’s defense force recently awarded the company a five-year contract extension to perform mine warfare system maintenance work.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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