UK Defense Firm QinetiQ Eyes Acquisitions to Reach Growth Target
- CEO Steve Wadey looking to buy companies in the US, Australia
- Firm shopping abroad as foreign investors snap up UK assets
A rifleman in the British Army, operates a Tracked Hybrid Modular Infantry System, THeMIS, developed by Milrem Robotics and QinetiQ Group, at the Autonomous Warrior 18 military exercise in Salisbury, U.K.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
QinetiQ Group Plc is looking to buy companies in the US and Australia to help the UK defense firm grow 75% over the next five years.
The London-based company expects the two markets to account for more than half of new business during that period, with around 30% growth in the UK, Chief Executive Officer Steve Wadey said Thursday.