- Buyers Guide
Military Microwaves Supplement
Recent Advances in Radar Technology
Using Calibration to Optimize Performance in Crucial Measurements
Continuing the execution of its strategy to grow its North American operations, QinetiQ Group plc has signed a definitive merger agreement to acquire Analex Corp. Under the terms of the agreement, which is conditional upon regulatory clearance in the United States, QinetiQ will offer to acquire all of the outstanding shares of Analex for $3.70 per share, or an aggregate equity price of approximately $173 M. The consideration will be paid in cash and the transaction is expected to be completed in March 2007.
Analex specializes in providing innovative information technology, aerospace engineering and security and intelligence support services for defense, intelligence and space programs. Headquartered in Fairfax, VA, with 11 locations around the US, the company is a provider of high technology professional services and solutions, principally to the US Government and its agencies. It employs approximately 1100 people. The addition of this skilled workforce, most of whom have security clearance, significantly enhances QinetiQ’s operational capabilities in North America.
The acquisition provides the company with new customers and contract opportunities as well as broadening the range of service offerings to the existing customer base of the Group. Principal customers include the US Missile Defense Agency (MDA), US Army, US Navy, DARPA and NASA.
Commenting on the agreement, QinetiQ’s chief executive officer Graham Love said, “Analex promises to be an excellent addition to the QinetiQ North America business profile, providing important new customer relationships within the US security agencies, the Department of Defense and NASA as well as broadening our existing service offerings. Having recently secured a number of new contracts, Analex offers growth and margin prospects consistent with expectations for QinetiQ’s existing North American business and we expect the acquisition to be immediately earnings enhancing for QinetiQ.”
Get access to premium content and e-newsletters by registering on the web site. You can also subscribe to Microwave Journal magazine.