QinetiQ is a diverse Aerospace & Defence company, the majority of which is unrelated to Shell's business, so I would be extremely surprised if they bought a company with a market capitilisation of £760M to get hold of a relatively small part of it.
What would Shell do with the rest of the company, or what would it cost to sell off the parts they didn't want to keep?

Its more likely that this may become a good revenue stream for QinetiQ to supplement their normal business and hopefully generate increased profits.