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Rhea-AI Summary
V2X (NYSE:VVX) completed the acquisition of QinetiQ's U.S. Intelligence business for approximately $24 million net of estimated tax benefits, adding data engineering, intelligence mission support, and cyber solutions capabilities.
The deal brings ~70 professionals with intelligence and cyber expertise into V2X and expands the company's access to critical national security programs. Integration is underway and will continue over the coming months, with management saying the acquisition strengthens V2X's ability to deliver data-enabled mission solutions across domains.
Positive
- $24 million acquisition adds intelligence/cyber capabilities
- Acquisition adds ~70 professionals with domain expertise
- Expands access to critical national security programs
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, VVX declined 2.19%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The transaction, valued at approximately
"This acquisition enhances our position in the Intelligence Community and strengthens our ability to deliver data-enabled mission solutions across all domains," said Jeremy C. Wensinger, President and Chief Executive Officer of V2X. "We are pleased to welcome this talented team and look forward to delivering greater value to our customers and shareholders."
Integration of the QinetiQ Intelligence business into V2X's national security portfolio is already underway and will continue over the coming months.
About V2X
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission's lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today's toughest challenges across all operational domains.
Investor Contact
Mike Smith, CFA
Vice President, Treasury, Corporate Development and Investor Relations
IR@goV2X.com
719-637-5773
Media Contact
Angelica Spanos Deoudes
Director, Corporate Communications
Angelica.Deoudes@goV2X.com
571-338-5195
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SOURCE V2X, Inc.