Qinetiq Group Plc (/kɪˈnɛtɪk/ as in kinetic; styled as QinetiQ) is a British multinational defence technology company headquartered in Farnborough, Hampshire. It is the world’s 52nd-largest defence contractor measured by 2011 defence revenues, and the sixth-largest based in the UK.
As a private entity, Qinetiq was created in April 2001; prior to this, it had been part of Defence Evaluation and Research Agency (DERA), a now-defunct British government organisation. While a large portion of DERA’s assets, sites, and employees were transferred to Qinetiq, other elements were incorporated into Defence Science and Technology Laboratory (DSTL), which remains in government ownership. Former DERA locations, including Farnborough, Hampshire, MoD Boscombe Down, Wiltshire, and Malvern, Worcestershire, have thus become key sites for Qinetiq.
In February 2006, Qinetiq was floated on the London Stock Exchange. The privatisation process was subject to an inquiry by the UK’s National Audit Office, which was critical of the generous incentive scheme available to the company’s management. Qinetiq has completed numerous acquisitions of defense and technology-related companies, primarily those that are based in the United States, and is a trusted supplier to the US government. It has also spun off some its technologies into new companies, such as Omni-ID Ltd. It is currently a constituent of the FTSE 250 Index.
Type: Public limited company
Traded as: LSE: QQ.
Industry: Aerospace; Defence; Research and development
Founded: 2001
Headquarters: Farnborough, Hampshire, United Kingdom
Products: Defence, security, aviation and energy and environment
Website: www.qinetiq.com