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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Serco Buys QinetiQ’s US Arm for $292m
Serco has agreed to buy QinetiQ's US defence business for $292m in cash, while QinetiQ plans to return £200m to shareholders and focus on UK, European NATO and allied markets.
Serco (LON: SRP) has agreed to buy QinetiQ’s US business for $292m in cash.QinetiQ (LON: QQ.), the UK defence and security engineering group, will use the sale to focus on UK, European NATO and allied markets and return £200m to shareholders.
Both companies announced the deal before the London open today. QinetiQ shares were up 5.2% at 550p at 8.09am, against 523p at yesterday’s close. Serco, the outsourcer, was up 1.5% at 290.2p at 8.07am. Both are delayed early-trading quotes.
QQ.LSE
Serco pays $237m for the operating business plus $55m for an acquired tax asset. The sale follows the strategic review QinetiQ began in May.
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Term
Detail
Total cash
$292m (£218m)
Operating business
$237m
Tax asset
$55m
Serco’s 2027 expectation
About $370m revenue, $21m underlying operating profit
Implied multiple
9.9x including synergies
Completion
Expected Q1 2027
For Serco, the business lifts North American revenue by over 15% to about $2.5bn and deepens its work for the US Space Force. It is funded from cash and debt facilities, adds about 0.6x to leverage (net debt as a multiple of earnings) and is expected to add to earnings per share from 2028.
QinetiQ’s chief executive explained why it is selling. Steve Wadey, Group Chief Executive Officer, said:
The US market has changed and, despite improvements to the business, we do not have the scale to meet our growth and returns expectations relative to the rest of our portfolio.
Steve Wadey, QinetiQ
QinetiQ books a c.£175m non-cash impairment, a write-down of the US business’s book value. After completion it plans to add £100m a year to its buybacks in each of FY28 and FY29.
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Even after today’s rise, QinetiQ shares are below their level of the 10th of August, while Serco’s are higher.
Serco and QinetiQ shares rebased to 100 on 10 August 2026; both rose on 12 November’s news of Serco’s deal for QinetiQ’s US business (the 12 November point is an early-trading quote).
Completion is subject to US antitrust, foreign-investment and classified-activity approvals. QinetiQ reported half-year results alongside the deal and left its full-year guidance unchanged, as did Serco.
The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.
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