Qinetiq wins $170m contract with US Homeland Security dept
Qinetiq Group said it's Avantus unit has won a five-year $170m contract with the US Department of Homeland Security for its Tethered Aerostat Radar System (TARS).
Aerospace and Defence
11,734.24
14:24 21/11/24
FTSE 250
20,262.93
14:25 21/11/24
FTSE 350
4,474.79
14:25 21/11/24
FTSE All-Share
4,431.68
14:25 21/11/24
QinetiQ Group
425.00p
14:24 21/11/24
TARS provides detection, tracking and monitoring capabilities in diverse environments at and beyond the US borders, Qinetiq said in a statement on Monday.
Under the deal, Qinetiq will deliver "aerostat operations, air-surface radar operations, ground control and data networking systems monitoring, and data analysis in support of border security and air sovereignty missions".
TARS is the largest new business competitive win for Avantus since its acquisition last year by Qinetiq. The contract takes the total new awards this year for Avantus to $827m, the company added.
Reporting by Frank Prenesti for Sharecast.com