Kraken Sonar Inc. this week said it has acquired Marine Robotics Inc., strengthening its technology and intellectual property portfolio.
Terms of the deal were not disclosed.
The asset acquisition includes an operational twin-pod SQX-500 unmanned underwater vehicle, underwater technology and intellectual property. Most of Marine Robotics employees, which include senior electrical mechanical and software engineers, are now with Kraken.
“We believe the ocean drone market is at an inflection point and set for major growth,” Karl Kenney, president and CEO of Canada-based Kraken, said in a statement. “This acquisition brings us a significant underwater technology and IP portfolio and continues to build on our sensors-to-systems strategy to be a market leader in the unmanned maritime systems industry.”
Kenney also stated that the acquisition supports the needs of its military and commercial customers.
“Military and commercial operators are starting to significantly invest in this market as the cost of utilizing drones is much less than conventional manned platforms,” Kenney said, adding that the deal is “a great accelerator for Kraken.”
Kraken manufactures software-centric synthetic aperture sonar sensors and systems sold to defense contractors, commercial survey companies and research institutions for producing real-time, ultra-high resolution imagery and bathymetry of the seabed.
Marine Robotics was also based in Canada.