V2X acquires QinetiQ’s US intelligence biz

Reston-based Fortune 1000 aerospace and defense contractor V2X acquired QinetiQ‘s U.S. intelligence business, the former announced Monday.

V2X expects the transaction value to be approximately $24 million after estimated tax benefits. Parent company QinetiQ Group said in a news release announcing the agreement in August that the sale of its U.S. federal IT services business to V2X had an enterprise value of $31 million.

The sale of the U.S. intelligence business is part of QinetiQ Group’s U.S. restructuring program, according to an August news release from the company.

“This acquisition enhances our position in the intelligence community and strengthens our ability to deliver data-enabled mission solutions across all domains,” V2X President and CEO Jeremy C. Wensinger said in a statement.

QinetiQ’s U.S. intelligence business provides data engineering, intelligence mission support and cyber solutions to the intelligence community. Approximately 70 employees will join V2X.

The business’ integration into V2X’s national security portfolio is underway and “will continue over the coming months,” according to a V2X news release.

Formed by the $2.1 billion merger of Vertex and Vectrus in 2022, V2X has about 16,000 employees. V2X serves national security, civilian, defense and international clients with solutions related to logistics, operations, and aerospace.

The U.S. arm of United Kingdom-based security and defense contractor QinetiQ Group is based in McLean.