QinetiQ

QinetiQ (pronounced k?-n?t'?k, as in kinetic energy) is a British defence technology company, created out of the greater part of the government agency DERA when it was split up in June 2001 (with the smaller part forming dstl). The Chief Executive at inception to the present day is Sir John Chisholm.

Related Topics:
Kinetic energy - British - Defence technology company - DERA - 2001 - Dstl - Chief Executive - Sir John Chisholm

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In solving defence and security problems they operate at the leading edge of both the development and application of science and technology. This enables them to give commercial customers access to solutions that are often beyond the state-of-the-art available in civil markets.

Related Topics:
Science - Technology

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When QinetiQ was created, the announcement by Defence Minister Lewis Moonie said that company would become, and remain, a British company based in the UK. The Ministry of Defence would retain a 'Special Share' in the company, and safeguards will be in place to prevent conflicts of interest. In February 2003, the U.S. private equity firm the Carlyle Group acquired a 33.8% share in the company. Current ownership is split between the MoD (56%), Carlyle Group (31%) and staff (13%).

Related Topics:
Lewis Moonie - Ministry of Defence - February 2003 - Private equity - Carlyle Group

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As a privatised company, QinetiQ is now one of the largest defence research organisations in the world. While part of DERA, the defence research sites that now form QinetiQ carried out testing, research and development, including the invention of liquid crystal displays, the technology for flat panel speakers, microwave radar, Chobham armour, and thermal imagers. In recent years QinetiQ has also developed software products, especially those for the defence and security industries.

Related Topics:
Liquid crystal display - Flat panel speakers - Microwave radar - Chobham armour - Thermal imager - Software - Security

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The major sites are at Farnborough, Hampshire (the historical Royal Aircraft Establishment) and Malvern, Worcestershire (the historical RSRE), each having more than 2,000 employees. Trials aircraft are flown out of Boscombe Down. The total number of UK employees is believed to be around 9,000 (figures as of April 2005).

Related Topics:
Farnborough - Hampshire - Royal Aircraft Establishment - Malvern, Worcestershire - RSRE - Boscombe Down - April 2005

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In September 2004 QinetiQ acquired the U.S. defence companies Westar and Foster-Miller.

Related Topics:
September 2004 - Westar - Foster-Miller

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In early August 2005 QinetiQ announced that it would aquire Apogen Technologies, Inc., pending regulatory approval. The QinetiQ website lists this merger as costing $288.0m (£162.7m).

Related Topics:
August 2005 - Apogen

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In September 05 QinetiQ acquired a 90% share of Verhaert Design and Development NV (VDD), the leading Belgian space systems integrator.

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QinetiQ is one of the UK's largest employers of science and engineering graduates - recruiting around 300 a year. Since 2002 it has appeared in the Times Top 100 Graduate Employers list.

Related Topics:
Employer - Science - Engineering - Graduate - Times Top 100 Graduate Employers

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QinetiQ is expected to float in the near future. Some controversy has been generated by the very large likely returns for The Carlyle Group and senior managers, with figures of over £20M suggested in the media for the CEO.

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In September 2005 Graham Love replaced Sir John Chisholm as Chief Executive. John Chisholm became Executive Chairman; the previous chairman Dame Pauline Neville-Jones having resigned earlier in the year. The move of Chisholm to Chairman was criticised by some in the UK financial press as an example of poor corporate governance.

Related Topics:
September 2005 - Graham Love - Pauline Neville-Jones - Corporate governance

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QinetiQ is a major stakeholder in the UK Defence Technology Centres which carry out military research.

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