Kraken Robotics Acquires 3D at Depth: A Strategic Move to Reinforce Subsea Capabilities
A New Era in Marine Technology
In a significant advancement for maritime technology, Kraken Robotics has inked a deal to acquire 100% of the shares of 3D at Depth, an esteemed American company that specializes in high-resolution laser detection and ranging (LiDAR) imaging and measurements. The acquisition, valued at $17 million, emphasizes Kraken’s commitment to enhancing its subsea service capabilities, with the deal expected to finalize around April 1st.
CEO’s Vision for Expansion
Kraken Robotics’ President and CEO Greg Reid commented on the acquisition, stating, “With 3D at Depth, we are acquiring an industry leader with an established customer base and strong gross margins.” This landmark acquisition is designed to not just increase Kraken’s foothold in famous hydrographic regions, but also to expand its presence in the United States, with new operational offices opening in Texas and Colorado.
Strengthening the U.S. Gulf Region Presence
The integration of 3D at Depth into Kraken Robotics signifies a strategic enhancement of their operations, particularly in the U.S. Gulf region. With Kraken’s established expertise in subsea services in Northern Europe, this acquisition serves to bridge the gap between two major markets. Reid believes this will strategically position Kraken as a key player in the ever-expanding U.S. market.
A 15-Year Legacy in Subsea Services
Established for over 15 years, 3D at Depth boasts a production facility headquartered in Longmont, Colorado, alongside its offshore service operations in Houston. The company maintains an active workforce of 56 employees and is recognized for its innovative underwater LiDAR technology that has redefined subsea imaging and measurement services.
An Impressive Portfolio of Projects
With an impressive track record, 3D at Depth has successfully completed more than 450 projects spanning 18 countries across six continents. Offering a diverse range of services, they provide precise measurement, thorough inspections, comprehensive surveying, diagnostics, and asset monitoring solutions, all driven by their unique, patented underwater LiDAR technology.
Adaptability and Versatility in Deployment
3D at Depth’s underwater LiDAR technology demonstrates remarkable adaptability, capable of being integrated into various platforms for survey missions. This provides flexibility for operations involving diver platforms, remotely operated vehicles, and even uncrewed underwater vehicles. Such versatility positions Kraken and 3D at Depth for extensive collaboration across many subsea environments.
Enhancing Kraken’s SeaVision Product Line
Kraken Robotics has been pioneering its SeaVision product line since 2017, amassing vast amounts of subsea data for clients within the offshore oil and gas sectors as well as renewable energy projects. This acquisition is poised to amplify their offerings as 3D at Depth’s advanced LiDAR technology will extend the capabilities of the SeaVision suite, particularly beneficial for challenging water depths exceeding 300 meters.
New Technologies Driving the Industry Forward
The inclusion of 3D at Depth’s technology not only enriches Kraken’s portfolio but also introduces new capabilities such as noncontact vibration and temperature measurement—key features that push the boundaries of current subsea technology. This amalgamation of capabilities and expertise is set to pave the way for significant technical advancements in subsea inspections and operations.
Bridging Technology and Services
Kraken Robotics and 3D at Depth are aligning their strengths, combining cutting-edge technology with unparalleled subsea services. This synergy is likely to deliver enhanced solutions that cater to the complex and demanding nature of underwater operations, ensuring that clients receive the most accurate and reliable data.
Preparing for Market Growth
With the imminent closing of this transaction, Kraken Robotics is poised to not only strengthen its domestic operations but also capitalize on burgeoning markets worldwide. The strategic entry point into the U.S. market could herald a new chapter for Kraken, propelling them to the forefront of subsea technology service providers.
A New Chapter for Subsea Services
The acquisition of 3D at Depth is just the beginning of a promising future for Kraken Robotics. As the subsea service sector continues to evolve, this merger sets a solid foundation for both companies to explore innovative solutions and expand their global reach.
A Focus on Quality and Precision
Quality data and precise measurement are paramount in subsea operations. Kraken’s acquisition reflects a robust commitment to adopting state-of-the-art technologies that will provide clients with accurate insights and operational efficiency—key components that drive success in this competitive landscape.
Strengthening Economic Footing
With Kraken’s entry into the American market bolstered by 3D at Depth’s established presence, this acquisition not only enhances technological capabilities but has the potential to create economic opportunities through job creation and service expansion.
Conclusion: A Bright Future Ahead
The acquisition of 3D at Depth by Kraken Robotics is set to reshape the future of subsea technology and services, presenting unique advantages and growth opportunities within the sector. As both organizations begin to collaborate closely, the potential for innovation and success appears promising, necessitating all eyes on Kraken Robotics as they seek to redefine the standards of subsea services globally.
