QinetiQ's U.S. subsidiary announced today it has agreed to acquire Avantus Federal LLC from NewSpring Holdings for $590 million.
Avantus is a provider of cyber, data analytics and software development solutions to the Defense Department, intelligence community, Department of Homeland Security and other federal civilian agencies, according to a QinetiQ statement.
From June 2021 to June 2022, Avantus generated revenues of $298 million, QinetiQ said.
"This acquisition is an important step in the execution of QinetiQ's five-year ambitions to expand our presence in the U.S., the largest security and defense market in the world," Steve Wadey, group CEO of QinetiQ, said in the statement. "Avantus significantly enhances our U.S. offering and provides a strong platform from which to further grow our U.S. operations. Avantus has a track record of high growth at attractive margins and is well-positioned across priority areas for key defense and intelligence customers in the U.S. We have a high confidence plan to integrate Avantus in order to deliver our global growth strategy."