Meggitt Acquires New Name but Keeps Pedigree of Excellence
This past December QinetiQ PLC purchased Meggitt Target Systems which is based in Medicine Hat, Alberta. QinetiQ was able to acquire this division of Meggitt for $90M CAD. While the acquisition was suprising to some, it made perfect sense according to Corrie Dale, VP of QinetiQ Target Systems.
QinetiQ is a globally recognized name in defence and it is especially well known for its expertise in training and simulation. QinetiQ, a UK Based company, has been expanding its international activities in recent years with significant successes in targeted markets – Canada being one of them. It was in 2014 that QinetiQ Canada was formed as a subsidiary of QinetiQ UK, vowing to become a key player within the Canadian market.
This acquisition of Meggitt Target Systems will surely help build QinetiQ’s footprint in Canada, but it will also help the newly named QinetiQ Target Systems’ team to increase business and drive more jobs to their local economy. QinetiQ brings with it an array of worldwide customers the Medicine Hat office is hoping to start working with in Canada. They also bring an immense amount of reach-back knowledge and expertise for the team to draw on. There is clearly an enormous amount synergy between these two companies.
While most acquisitions can be a source of much turmoil and tension for a company, Corrie Dale has expressed how QinetiQ “...appreciates what [they] are doing as a company, and want more of it.” In fact, the QinetiQ Target Systems team won the prestigious Premier’s Award of Distinction at this year’s Alberta Business Awards of Distinction. “To be recognized as the best in all of Alberta for our customer service, innovation and community involvement is really rewarding, and we couldn’t be more proud,” said Dale. “Our staff is extremely passionate and hardworking, and it’s really nice to be recognized for that.”