Kongsberg Maritime buys UK company GeoAcoustics Ltd.
Posted on 19.09.2008 - 14:00 EDT in ACQUISITION/MERGER NEWS by Rons_ROV_Links
Kongsberg Maritime has signed an agreement to purchase the UK based sonar company GeoAcoustics Ltd. of Great Yarmouth, for approx. MNOK 42.
The acquisition will enhance Kongsberg Maritime's market position as GeoAcoustics' products will complement Kongsberg's product portfolio.
GeoAcoustics has 30 years of experience in underwater acoustics. It has an excellent reputation in the market, especially for side scan sonars and technology for sub-bottom profiling.
In 2007/08 GeoAcoustics had a turnover of approx. MNOK 42 and had 43 employees, including its subsidiaries in Mumbai and Singapore.