Home / M&A Activity / The SI Org Closes Potential $215M Purchase of QinetiQ NA’s Services Arm

The SI Org Closes Potential $215M Purchase of QinetiQ NA’s Services Arm

SI Organization logoQinetiQ confirmed Tuesday that it has completed the sale of its U.S.-based services division to The SI Organization, a little more than a month after regulatory and shareholder approvals were met.

The SI Organization has made an initial payment of $165 million for QinetiQ North America‘s services group and could pay an additional $50 million in cash no earlier than March 31 2015 depending on the group’s gross profit performance up to that date.

Mac Curtis, The SI’s CEO, said in April that his company made the deal to continue its strategy to lead the “design, development, integration and operation of complex, mission-critical information systems across the government.”

For more details on the transaction and Curtis’ perspective on The SI’s adjacent growth aims, click here to read GovCon Wire’s previous coverage of the transaction.

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