NewSpring exits Avantus through $590M QinetiQ deal

This article was originally published by Pitchbook.

NewSpring Capital has closed on the sale of Avantus Federal to QinetiQ Group's US division, a deal that values Avantus at $590 million. QinetiQ US engineers digital products for the Defense Department and intelligence agencies. NewSpring acquired Avantus through a leveraged buyout in 2018.

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