QinetiQ Group PLC (LSE:QQ.) has agreed to sell its US Federal IT Services business, which provides data and cyber services, to V2X for $31 million.
The transaction, valued at about one times revenue, is expected to complete before the end of September 2025.
The company said the sale is part of its US restructuring programme and aligns with its strategy to focus on maritime systems, advanced sensors, space and missile defence mission support, and persistent surveillance.
These four market segments account for most of its US revenue.
The proceeds will be used to support QinetiQ’s ongoing share buyback programme and reduce net debt.