QinetiQ’s acquisition of Dominion Technology Resources, Inc will bolster its presence in the US.

UK aerospace and defence group QinetiQ has today (4 August) announced its acquisition of US spy services firm Dominion Technology Resources, Inc. (DTRI) for $104.5 million (£53 million) in cash.

The deal will increase the presence of QinetiQ’s North America (QNA) division – in particular within the US Intelligence Community, the company said.

Dominion is a leading provider of high end products and services to the US intelligence community, with operations focused on mission architecture engineering, integration and operations support.

It currently employs more than 100 staff, the majority of whom have high level security clearance. The company has a strong history of growth – compound revenue increased from $12.4m in 2004 to $46.6m in 2007.

Commenting on the acquisition, QinetiQ’s Chief Executive Officer, Graham Love, said: “We are delighted to be joining forces with a high quality business like DTRI. We look forward to welcoming their employees into QinetiQ and working with the existing management team to grow the business substantially in the future.

“DTRI operates in an important, fast growing market which is typically difficult to enter. Very importantly, DTRI brings new customer relationships from within the US Intelligence Community and provides us with further growth opportunities within the broader North American market.”

For more information on the companies, visit www.qinetiq.com and www.dtri.net

By Natasha Piscitelli