Qinetiq locks in $45.0m contract with Development Command
By Iain Gilbert
Date: Tuesday 09 Aug 2022
(Sharecast News) - Science and engineering company Qinetiq has secured a $45.0m, five-year contract to provide services for the Development Command at its Fort Belvoir prototyping integration facility.
Qinetiq said on Tuesday that the contract, which comes on a one-year base period followed by four one-year options, will see it provide technical services for system development, fabrication, sensor and system integration, prototyping of multi-function sensor suites, and technology assessment efforts aimed at supporting current and future DEVCOM C5ISR PIF Belvoir customers.
"This contract is an important competitive win for the business and reinforces our continued value to our customers. It is the largest significant win for our strengthened US leadership team, focused on driving short-term operational performance and organic growth," said Qinetiq.
"This success demonstrates our strategy is working and provides further confidence as we prepare for the integration of our recently announced acquisition of Avantus Federal."
As of 0900 BST, Qinetiq shares were up 1.83% at 387.78p.
Reporting by Iain Gilbert at Sharecast.com
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