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McLean-based cybersecurity contractor Avantus Federal acquired for $590 million

McLean, Virginia-based Avantus Federal, one of the area’s largest government contractors, has been acquired by Lorton-based QuinetiQ U.S., the U.S. cybersecurity contracting division of London-based QinetiQ Group plc, for $590 million.



It acquired the company from NewSpring Holdings, an investment firm based in Pennsylvania.

Avantus employs 1,150 professionals with high government security clearances. Its customers include Defense Intelligence, Homeland Security and federal civilian agencies.

The acquisition combines QinetiQ’s work in robotics and autonomous systems, sensing and protection systems, with Avantus’ work in cyber, data, government facility and space.

Avantus chief executive Andy Maner said the merger “is key to providing more opportunities and growth fort our people and customers.”

Avantus’ customers include the Defense Advanced Research Projects Agency, the Department of Transportation and the U.S. Army Corps of Engineers.

Oil prices slip and Asian shares are mostly lower as investors sell chipmaker stocks

HONG KONG (AP) — Oil prices fell Wednesday and Asian shares were mostly trading lower as South Korea’s Kospi extended its losses after falling more than 16% over the past two days. Crude prices remain volatile after the U.S. said early Thursday it had conducted a “heavy wave” of strikes against Iran, responding to an attack on a U.S. base. U.S. futures edged higher after losses on Wall Street. In South Korea, recent drops in its benchmark Kospi, a big beneficiary of the global boom in artificial intelligence, have been seen by some analysts as a reflection of broader doubts about massive investments by technology giants in expanding capacity for AI.
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