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Qinetiq Doubles US Revenues With Acquisition

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Qinetiq has gone on a spending spree in the US. The privatised advanced defence research laboratory has acquired Apogen Technologies for $288m (£163m).

The acquisition is one of two. Planning systems, a US private company is a smaller deal.

Together the newcomers will almost double the revenues Qinetiq derives from the U.S to $600m or a third of all revenues.

Shareholders in Qinetiq, the Carlyle Group and the UK Ministry of Defence are considering a £1.1bn flotation in November.

Apogen is heavily involved in the fast growing market of defence systems based on IT. They supply both the Pentagon and the Department of Homeland Security. Projects include the U.S. Visit program for border control.

Planning systems is developing a radar to discover roadside bombs for the US Army.

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