QinetiQ Group Agrees to Sell US Unit to Serco for $292 Million

04:15 AM EST, 11/12/2026 (MT Newswires) -- QinetiQ Group (QQ.L) agreed to sell its US business QinetiQ Inc. to critical government services company Serco Group (SRP.L) for $292 million in cash, according to a Thursday release. Completion is expected in the first quarter of 2027, after which the defense and security company expects to return 200 million pounds sterling of the proceeds to shareholders by increasing its planned share buybacks for fiscal 2028 and 2029 by 100 million pounds annually. QinetiQ said the sale will allow the group to focus on the UK, European NATO, and other allied defense and security markets, while increasing investment in artificial intelligence, infrastructure, and people.