Steve Wadey, CEO of QinetiQ Group Plc, said: “Based on the acquisition of MTEQ, this new special security agreement allows us to radically reset the market as an integrated global defence and security company. As part of the agreement, QinetiQ`s U.S. defence and security operations will be consolidated into a single entity. A proxy advice is a requirement imposed as part of a proxy agreement by the U.S. Department of Defense`s Defense Security Service for foreign investors who wish to acquire certain U.S. companies. This is for national security reasons and is especially the case for defence companies that participate in top secret contracts. The proxy agreement exists between the foreign company, the U.S. subsidiary that holds classified contracts, and the DSS. QinetiQ has signed a new Special Security Agreement (SSA) with the US Security and Security Agency (DCSA). The SSA replaces QinetiQ`s previous North American proxy agreement. A variant is a Special Security Agreement (SSA) in which the company`s board of directors may be composed of both U.S.
citizens and nationals of the parent company`s country. In this case, when national security issues are discussed, only U.S. leaders can participate. THE SSA requires that businesses be run by U.S. law and by U.S. citizens.  In May 2006, the CEO of BAE Systems described the “firewalled” status of BAE, a U.S. subsidiary, BAE Systems Inc., “British executives, including myself, see the financial results; but many areas of technology, products and programs are not visible to us…. The SSA allows us to act as a U.S. company in the United States and provide the highest level of security and integrity in some of the most sensitive areas of national security.  The services and agencies of the executive meet before gaining access to information prohibited to contractors who are authorized or in the process of being approved under a Special Security Agreement (SSA) to gain access to the prohibited information. The company`s entire U.S.
operations employ 700 people at U.S. locations in Virginia, Massachusetts and Pennsylvania. “The way we came together as a new team and worked with the DCSA to get this decisive change at pace is remarkable.” He will have a profound and positive influence on the way we work, and he will make great proposals that would add value to the American warrior. In a separate development, QinetiQ announced the acquisition of software development and data analytics company Naimuri. “The SSA will allow for much greater cooperation, which will facilitate the creation of integrated business capture teams and the use of investments across the group. During the period of the special security agreement, the appointments of new directors or alternate directors become final only after approval by the DSS.