Kraken Robotics acquires Covelya Group for $615M
Kraken Robotics said it hopes to transform subsea intelligence with 3D imaging sensors, power systems, and uncrewed maritime systems. | Source: Kraken Robotics Kraken Robotics Inc. last week acquired Covelya Group Ltd. for around $432 million USD ($615 million CAD). Kraken said this acquisition aligns with its goal to deliver value to customers through a portfolio of dual-use technologies. “This acquisition positions Kraken as a global provider of mission-critical, dual-use subsea intelligence
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Kraken Robotics acquired Covelya Group for approximately $432 million USD in a deal that expands Kraken's subsea technology offerings and customer base in defense and maritime surveillance. The acquisition brings together six complementary companies specializing in sonar systems, underwater optical systems, software, and maritime technology integration. The combined company expects to achieve $7 million in cost savings within 24 months and benefit from increasing global defense budgets focused on autonomous underwater systems.
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