QinetiQ completes the sale of its underwater systems business
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01 Oct 2009
QinetiQ today announces that it has completed the sale of its underwater systems business based at Winfrith, Dorset to Atlas Elektronik UK following approval by the UK Department of Business, Innovation and Skills.
The development of a full-scale Partial Air Cushion Supported Catamaran (PACSCAT) technology demonstrator and support for the new surface combatant and carrier design
The transaction is in line with QinetiQ’s strategy to dispose of certain non-core assets within its EMEA business and reallocate capital into higher growth investments.
Notes to Editors:
The underwater systems business, based in Winfrith, Dorset employs approximately 220 employees. It operates in the areas of hydro-acoustics, sonar, open architecture sonar and combat management systems, acoustic counter measures, submarine signatures, maritime security and control of unmanned maritime vehicles. The business is a provider to the UK Ministry of Defence and other defence departments and corporate customers internationally.
Atlas Elektronik GmbH, the parent company of Atlas Elektronik UK, is a company jointly owned by ThyssenKrupp and EADS.
QinetiQ retains a range of maritime capabilities which include:
- The 15-year Maritime Strategic Capabilities Agreement (MSCA) with the UK MOD signed in early September 2008 to underpin access to a range of facilities and technical expertise that include hydrodynamics and propulsor design, structures and survivability, maritime life support, shock testing and the hyperbaric medical unit