"Pending U.S. federal regulators' approval, QinetiQ, a $2 billion defense and security company spun off from the U.K. Ministry of Defence in 2001, will buy Apogen for about $300 million in cash...In December 2002, the Defence Ministry, which retained majority ownership in QinetiQ, brought in the Carlyle Group, a Washington, D.C.-based private equity firm. Carlyle took a minority stake in the company. QinetiQ, which posted about $1.5 billion in revenue for the fiscal year ending March 31, has about 12,000 employees in the United Kingdom and the United States." (FCW.com)
QinetiQ to buy Apogen
The US isn't the only country whose spy agency has turned to the open market for financing and research. The UK has been doing it for four years. Strangely, both the British (QinetiQ) and American (In-Q-Tel) versions of this idea contain the letter Q:
