V2X, announced the successful completion of its acquisition of QinetiQ’s U.S. Intelligence business, a provider of data engineering, intelligence mission support, and cyber solutions for the Intelligence Community.
The transaction, valued at approximately $24 million net of estimated tax benefits, adds new capabilities and expands V2X’s access to critical national security programs. Approximately 70 professionals with deep expertise in intelligence and cyber operations will join V2X as part of the acquisition.
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“This acquisition enhances our position in the Intelligence Community and strengthens our ability to deliver data-enabled mission solutions across all domains,” said Jeremy C. Wensinger, President and Chief Executive Officer of V2X. “We are pleased to welcome this talented team and look forward to delivering greater value to our customers and shareholders.”
Integration of the QinetiQ Intelligence business into V2X‘s national security portfolio is already underway and will continue over the coming months.
SOURCE: PRNewswire