Acquisition

QinetiQ Group plc 23 April 2007 QinetiQ Group plc Monday 23 April 2007 Acquisition of Applied Perception and Automatika QinetiQ Group plc announces today that its US subsidiary Foster-Miller Inc. has agreed to purchase all the shares of Applied Perception Inc. (API) and Automatika Inc. (Automatika), both providers of robotics technologies, for up to $9.2m each. The transactions will close upon receipt of appropriate US government regulatory approvals. The acquisition of each company will be settled for an initial cash consideration of $6.0m, with an additional deferred consideration of up to $3.2m two years after closing. API is a privately-held US company, 100% owned by its founder and employing the equivalent of 15 full-time staff. It develops software and control systems for the autonomous navigation of a broad range of unmanned vehicles, and its principal customers are the US Department of Defense (DoD) and Department of Transport. Automatika is a privately-held US company, 100% owned by its two founders and employing the equivalent of 12.5 full-time staff. It develops robotics technologies and products for the US government and the oil and gas markets. (Ends) This information is provided by RNS The company news service from the London Stock Exchange
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