Kraken Robotics signs C$615 million agreement to acquire Covelya Group
Kraken Robotics signed an agreement to acquire Covelya Group for C$615 million, combining Kraken with Covelya subsidiaries across subsea navigation, sensing, imaging and communications.
Evidence notes
- Kraken Robotics signed an agreement to acquire Covelya Group for total consideration of C$615 million, excluding transaction costs and closing adjustments.
- Covelya brings Sonardyne, EIVA, Forcys, Wavefront Systems, Voyis Imaging and Chelsea Technologies into the proposed combined subsea technology portfolio.
- The transaction was structured as C$480 million in cash plus C$135 million in Kraken common shares, subject to regulatory and exchange approvals.
Company context
Marine technology company providing synthetic aperture sonar, subsea batteries, towed sonar systems and subsea intelligence systems.