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Business/Financial

SI Deal For Most Of QNA Will More Than Double Company’s Size

By Cal Biesecker

Tuesday, April 22nd, 2014

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SI Deal For Most Of QNA Will More Than Double Company’s Size

QinetiQ's U.S. business' unmanned systems include the TALON tactical robot. Photo: QinetiQ

The SI Organization, a former business unit of defense contractor Lockheed Martin [LMT], said on Tuesday it has agreed to acquire the engineering services business of QinetiQ North America (QNA) in a deal that will more than double the size of the company and significantly expands its customer base, providing it with substantially more business outside of the intelligence community. SI will pay $165 million in cash for QNA’s services business and the deal terms include an earnout provision worth…

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