Apogen begins QinetiQ North America consolidation
- By Ethan Butterfield
- Feb 23, 2006
After Apogen Technologies Inc. was acquired by the British firm QinetiQ Group Plc. in August, company CEO Paul Leslie said that Apogen would eventually combine with other companies that QinetiQ had already acquired.
This week Apogen of McLean, Va., began that process by acquiring the staff and assets of QinetiQ Trusted Information Management Inc., Arlington, Va., which the British defense technology company has operated in the United States since 2002.
QinetiQ Trusted Information Management offers an IT security assessment and assurance solution. The company tests and studies an organization, then provides a detailed report that scores a variety of topics, including vulnerability, process and threat assessments, risk analysis and mitigation.
"This acquisition is the first major realization of the synergy of the Apogen-QinetiQ merger," Leslie said in a statement this week. "With QTIM Inc., we get a mature information assurance offering to build our capabilities in that area. We expect that with our network engineering and infrastructure customer base, we can create an environment for rapid growth for this critical capability."
Financial terms of the deal were not released. QinetiQ, Farnborough Hampshire, U.K., purchased Apogen in August 2005 for about $300 million.
QinetiQ in 2004 acquired two IT companies, Foster-Miller Inc., Waltham, Mass. and Westar Aerospace and Defense Group Inc., St. Louis. The British firm also operates Planning Systems Inc., Reston, Va. and QinetiQ Technology Extension Corp., Norco, Calif.
An Apogen spokeswoman said the company has no immediate plans for further consolidation with any more QinetiQ family companies, but that the various businesses are already working together to look at jointly bidding projects and collaborating on technology and business development.
Apogen has about 1,000 employees and had revenues of about $200 million in fiscal 2004. The company ranks No. 48
on Washington Technology's 2005 Top 100
list of federal prime contractors.