QinetiQ Group plc has agreed to acquire Dominion Technology Resources Inc. (DTRI), a provider of high end products and services to the US Intelligence Community. DTRI’s expertise focuses on mission architecture engineering, integration and operations support.

Under the terms of the agreement, which is conditional upon regulatory clearance in the United States, QinetiQ will acquire 100 percent of the stock of DTRI for a net cash consideration of approximately $104.5 M (post tax attributes of the transaction). The acquisition will be organized under the Mission Solutions Group of QinetiQ North America (QNA).

Commenting on the acquisition, QinetiQ's chief executive officer Graham Love said, “We are delighted to be joining forces with a high quality business like DTRI. We look forward to welcoming their employees into QinetiQ and working with the existing management team to grow the business substantially in the future. DTRI operates in an important, fast growing market which is typically difficult to enter. Very importantly, DTRI brings new customer relationships from within the US Intelligence Community and provides us with further growth opportunities within the broader North American market.”