NewSpring exits Avantus through $590M QinetiQ deal
December 13, 2022
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.