M&A Deal Summary

Kraken Robotics Acquires PanGeo Subsea

On April 9, 2021, Kraken Robotics acquired marine company PanGeo Subsea

Acquisition Highlights
  • This is Kraken Robotics’ 2nd transaction in the Marine sector.
  • This is Kraken Robotics’ 1st transaction in Canada.
  • This is Kraken Robotics’ 1st transaction in Newfoundland.

M&A Deal Summary
Date 2021-04-09
Target PanGeo Subsea
Sector Marine
Buyer(s) Kraken Robotics
Deal Type Add-on Acquisition

Target

PanGeo Subsea

St. John's, Newfoundland, Canada
PanGeo Subsea is a Marine geotechnical service delivery company specializing in acoustic imaging solutions to mitigate risk in offshore installations by imaging and identifying geohazards in the seabed (such as boulders, hard layers, shallow gas, and unexploded ordnance). PanGeo Subsea was founded in 2006 and is based in St. John's, Canada.

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Buyer(S) 1

Buyer

Kraken Robotics

Mount Pearl, Newfoundland, Canada
Category Company
Founded 2008
Sector Marine
Employees250
Revenue 70M CAD (2023)
DESCRIPTION

Kraken Robotics is a marine technology company, designs, develops and markets underwater sonars and acoustic velocity sensors for unmanned underwater vehicles used in military and commercial applications in Canada, the United States, France, Israel, and internationally. Kraken Robotics was founded in 2008 and is based in Mount Pearl, Newfoundland.

DEAL STATS #
Overall 2 of 3
Sector (Marine) 2 of 2
Type (Add-on Acquisition) 2 of 3
State (Newfoundland) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-07 Kraken Power

Bentwisch, Germany

Kraken Power GmbH designs and manufactures unique pressure tolerant thrusters, drives, batteries, and electronics. Kraken Power was established in 2016 and is located in Bentwisch, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-19 13 Robotics

Rio de Janeir, Brazil

13 Robotics consists of software developers and engineers who have significant experience in underwater robotics and autonomous systems for the energy markets. 13 Robotics has completed projects for a number of global energy companies, with a focus on autonomous underwater inspection in offshore oil and gas as well as renewable energy. 13 Robotics was founded in 2013 and is based in Rio de Janeir, Brazil.

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