Kraken Robotics Acquires Marine Robotics Technology

Kraken Robotics Inc. announced it has acquired the underwater robotics technology and related intellectual property rights previously owned by Marine Robotics Inc. The terms of the acquisition were not disclosed.

The purchase expands Kraken's technology portfolio and enhances its position in the growing market for marine robotics, which offers cost-effective alternatives to manned vessels. The acquired assets include underwater robotics technology, intellectual property, and physical assets, notably a functional SQX-500 Unmanned Underwater Vehicle (UUV).

Furthermore, a majority of the senior engineers previously employed by Marine Robotics Inc. have joined Kraken Robotics. CEO Karl Kenny highlighted that the "ocean drone" market is at an inflection point with significant growth potential. This acquisition supports Kraken's strategy to become a leader in Unmanned Maritime Systems (UMS).

"The acquisition of Marine Robotics' technology, physical assets and intellectual property is a great accelerator for Kraken, while also supporting the growing needs of our military and commercial clients," Kenny stated. He also referenced Kraken's recently announced KATFISH platform, underscoring the company's investments in underwater robotics.

Marine Robotics Inc. was a subsidiary of Marport Deep Sea Technologies Inc. and had invested millions of dollars in technology development. The company engaged in extensive collaborations with Canadian research institutions and international partners.