Serco Group Announces $292 Million Acquisition of QinetiQ's U.S. Business
Serco Group plc (SCGPY) has announced its intention to acquire the U.S. business unit of QinetiQ, a move referred to as 'QQUS'. The acquisition is structured as an all-cash transaction valued at approximately $292 million. Management expects the new division to contribute significantly to long-term growth, forecasting $370 million in revenue by 2027 and an underlying operating profit of $21 million. This strategic expansion aims to strengthen Serco's footprint within the United States market.
Tickers: $SCGPY
Topics: acquisition earnings call expansion