In this video we explore an abandoned Air Warfare National Security Contractor. In early 2001, when defence minister Lewis Moonie announced the creation of Qinetiq via the privatisation of the Defence Evaluation and Research Agency (DERA). At the time, Moonie stated that the entity would remain a British business, being based in the UK, and that the Ministry of Defence (MoD) would retain a 'special share' in the company while safeguards would be in place to prevent conflicts of interest. By April 2002, while Qinetiq had taken steps to operate on a commercial basis and saw third parties as its key growth area, 80% of its annual sales was reportedly being derived from the UK MoD. It was observed that Qinetiq's close relationship with the MoD gave it a competitive edge over most private-sector rivals Initially, Qinetiq was entirely owned by the British government; it was planned for a stock market flotation of the firm to be conducted sometime during 2002. However, this flotation was postponed; according to aerospace industry periodical Flight International, a lack of investor confidence was the principal reason for the delay. In late 2002, the Carlyle Group, an American private equity firm, publicly declared its intention to purchase a large stake in Qinetiq. In February 2003, the Carlyle Group completed the acquisition of a 33.8% share for £42 million. Prior to Qinetiq's flotation years later, ownership of the firm was divided between the MoD (56%), Carlyle Group (31%) and staff (13%). The Carlyle Group was expected to remain invested in Qinetiq for between three and five years, after which a stock exchange float would take place In September 2004, Qinetiq acquired the US defence companies Westar Corporation and Foster-Miller, maker of the Talon robot. Also in 2004, it acquired HVR Consulting Services a leading UK-based engineering consultancy. In early August 2005, the company announced it would acquire Apogen Technologies, Inc., pending regulatory approval; according to Qinetiq's website, the purchase came at a cost of $288.0m (£162.7m). In September 2005, the company acquired a 90% share of Verhaert Design and Development NV (VDD), a Belgian space systems integrator. In October that year, it acquired Broadreach Networks Limited, a supplier of Wi-Fi internet equipment to the European rail industry, and in February 2006, it bought Graphics Research Corporation Ltd, developer of the Paramarine software suite of ship and submarine design tools. Qinetiq Dassault/Dornier Alpha Jet (ZJ647) arrives at RAF Fairford, Gloucestershire, England, for the Royal International Air Tattoo (2014)

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