US yard buys marine robotics company
Hydroid’s REMUS autonomous underwater vehicle (Source: Hydroid)
U.S. yard Huntington Ingalls Industries Inc has signed an agreement with Norway-based technology enterprise Kongsberg Maritime AS to buy the U.S./ Norwegian company Hydroid Inc, a provider of advanced marine robotics to the defence and maritime markets, for a purchase price of US$350 million. Hydroid is a wholly owned indirect subsidiary of Kongsberg.
The acquisition will allow Huntington Ingalls to expand its capabilities in the autonomous and unmanned maritime systems market. In conjunction with the transaction, Huntington Ingalls and Kongsberg Maritime are also establishing a strategic alliance to jointly market naval and maritime products and services to the U.S. government market. The transaction is subject to regulatory review and customary closing conditions and is expected to close in the first quarter of 2020.
