Mentioned:
Kraken Robotics wants to be a leader in subsea technology. And now, they’re making a new acquisition to go to the next level.
What’s happening:
- Kraken Robotics (TSXV: PNG) has announced they will acquire Colorado based advanced underwater LiDAR company 3D at Depth
By the numbers:
- Kraken Robotics will pay $17M USD in cash to acquire 3D at Depth
- 3D at Depth has successfully completed more than 450 projects across 18 different countries since inception
Why it matters:
- 3D at Depth has already landed partnerships for their LiDAR technology with some of the world’s largest energy companies, including Exxon, Shell and Chevron
Going deeper:
- Kraken Robotics has been aggressively ramping up lately, including successfully completing a large equity financing round and also landing major new purchase orders for their pressure tolerant batteries
