Add-on Acquisition • Information Technology

QinetiQ Acquires Avantus

On August 5, 2022, QinetiQ acquired information technology company Avantus from NewSpring Capital for 590M USD

Acquisition Context
  • This is QinetiQ’s 5th transaction in the Information Technology sector.
  • This is QinetiQ’s largest (disclosed) transaction.
  • This is QinetiQ’s 9th transaction in the United States.
  • This is QinetiQ’s 5th transaction in Virginia.

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M&A Deal Summary

Date August 5, 2022
Target Avantus
Sector Information Technology
Buyer(s) QinetiQ
Sellers(s) NewSpring Capital
Deal Type Add-on Acquisition
Deal Value 590M USD
Advisor(s) Guggenheim Securities
Baker Tilly Capital (Financial)
Kirkland & Ellis (Legal)

Target Company

Avantus

McLean, Virginia, United States
Avantus is a provider of mission-focused cyber, data analytics, and software development solutions to the Department of Defense, Intelligence Community, Department of Homeland Security, and other law enforcement and civilian agencies. Avantus is based in McLean, Virginia.
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Buyer Overview 1

Buyer

QinetiQ

Farnborough, United Kingdom

Category Company
Founded 2001
Sector Life Science
Employees8,403
Revenue 1.9B GBP (2025)
DESCRIPTION

QinetiQ is a science and technology organization that deploys our scientific and technological knowledge, proven research capabilities and unique, purpose-built facilities to provide both services and products that meet the needs of a wide range of global customers. We operate primarily in the defence, security and critical national infrastructure markets. QinetiQ was founded in 2001 and is based in Farnborough, England.


Deal Context for Buyer #
Overall 16 of 16
Sector: Information Technology 5 of 5
Type: Add-on Acquisition 14 of 14
State: Virginia 5 of 5
Country: United States 9 of 9
Year: 2022 1 of 1
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-03 OptaSense

Hampshire, United Kingdom

OptaSense Ltd. is a fiber optic distributed monitoring solutions for pipelines, oilfield services, security, highway monitoring and railway monitoring, and power and utilities monitoring systems. OptaSense is based in Hampshire, United Kingdom.

Sell £29M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-03 QinetiQ Space

Farnborough, United Kingdom

QinetiQ Space delivering earth observation, platforms, mechanisms, and science instruments in the space sector. QinetiQ Space was founded in 1983 and is based in Farnborough, United Kingdom.

Sell €32M

Seller Profile 1

SELLER

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


Deal Context for Seller #
Overall 81 of 92
Sector: Information Technology 13 of 17
Type: Add-on Acquisition 44 of 52
State: Virginia 1 of 4
Country: United States 80 of 91
Year: 2022 5 of 6
Size (of disclosed) 3 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-26 Cordial

San Diego, California, United States

Cordial is a cross-channel marketing platform built to help marketers create unique and unified customer experiences across all channels. Using unlimited data and advanced messaging capabilities, Cordial helps brands communicate with customers in highly personalized ways across email, SMS, mobile app and more. Cordial was founded in 2014 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-06 Emtec

Jacksonville, Florida, United States

Emtec provides information technology (IT) services and products to the federal, state, and local government, education, and commercial markets. It helps clients identify and prioritize areas for improvement and then implement the process, technology, and business application improvements that reduce costs, improve service and align the delivery of IT with the needs of their organizations. Emtec was founded in 1964 and is based in Jacksonville, Florida.

Sell -