ROVworld Subsea Information

Hydroid, LLC acquisition by Kongsberg Maritime completed
Date: Thursday, July 31, 2008 @ 11:00:00 EDT
Topic: ACQUISITION/MERGER NEWS


Hydroid, LLC acquisition by Kongsberg Maritime completedHydroid, Inc. a leading manufacturer of Autonomous Underwater Vehicles (AUVs), announced today that the company's acquisition by Kongsberg Maritime, announced in December 2007, has recently received U.S. Government approvals. Kongsberg and Hydroid expeditiously completed the transaction.

Kongsberg Gruppen, headquartered in Kongsberg, Norway, is a technology group, employing over 4,400 employees based in 25 countries. It is comprised of two divisions, Kongsberg Defense and Aerospace, and Kongsberg Maritime of which Hydroid will join. Kongsberg Gruppen reported revenues of approximately $1.6 billion in 2007 and is listed on the Oslo Stock Exchange and traded under the ticker KOG.

"The acquisition of Hydroid is within Kongsberg Maritime strategy to expand in the rapidly growing market for AUV-based operations through a broader portfolio of products, wider presence in the market and focused R&D efforts," stated Rolf Arne Klepaker, Kongsberg Maritime Subsea Executive Vice President.

Hydroid was established in 2001 to manufacture, support and further develop the REMUS Autonomous Underwater Vehicle (AUV) technology, originally developed, and licensed from, the Woods Hole Oceanographic Institution. Located in Pocasset, Massachusetts, Hydroid offers a range of REMUS vehicles, including systems rated for 6,000 meter operations, and has delivered over 150 systems in the past seven years.

All the HUGIN vehicles and the REMUS vehicles can be customized for many applications which include: hydrographic surveys, mine counter measure operations, harbor security operations, environmental monitoring, debris field mapping, marine geological survey, inspection of underwater engineering structures and pipelines, search and salvage operations, fishery operations, and scientific sampling and mapping. Mr. Christopher von Alt, President of the newly formed Hydroid Inc, a Kongsberg company, commented "This synergy of products and dedication to customer satisfaction will guarantee the highest levels of quality and support to our AUV customers."







This article comes from ROVworld Subsea Information
http://www.rovworld.com

The URL for this story is:
http://www.rovworld.com/modules.php?name=News&file=article&sid=2469