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Business/Financial

Huntington Ingalls To Gain Share Of Small, Medium UUV Market With Hydroid Deal

By Cal Biesecker

Tuesday, February 4th, 2020

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Huntington Ingalls To Gain Share Of Small, Medium UUV Market With Hydroid Deal

Remus 600 medium unmanned underwater vehicle being carried on stern of a small patrol craft. (Photo: Hydroid Inc., now a division of HII)

Huntington Ingalls Industries [HII] on Tuesday said it has agreed to acquire Hyrdroid Inc. for $350 million in cash, adding field-proven products and know-how in small and medium autonomous unmanned underwater vehicles (UUVs) to go with its existing capabilities in large and extra-large UUVs. Hydroid, which is based in Massachusetts, has about 230 employees and about $98 million in annual sales. The business is currently owned by Kongsberg Maritime, part of Norway’s Kongsberg Gruppen aerospace, defense and maritime company. Hydroid’s…

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