Half Year 2020 Qinetiq Group PLC Earnings Call Transcript
Thank you. Good morning, everybody, and welcome to our interim results. I'd also like to welcome Neil Johnson, our new Chairman, who's joined us here this morning. Welcome, Neil.
So I'm going to start by mentioning our most recent news, our agreement to acquire MTEQ announced on the 2nd of October. This acquisition strengthens our expertise to rapidly create and field new products and services; creates additional value by combining advanced sensors, robotics and autonomy that are critical enablers to modern warfare; and more than doubles the size of our U.S. operation, increasing the U.S. to approximately 25% of our group. This picture represents the first major collaborative opportunity with MTEQ, where we have proposed the integration of an MTEQ sensor package onto one of QinetiQ's autonomous systems for the U.S. Army, enabling advanced sensing of threats in a contested battlefield whilst keeping the war fighter out of harm's way. Acquiring MTEQ is symbolic of our growth strategy in action, driving growth by building an integrated
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