Kraken Acquires Marine Robotics Technology and IP

Kraken Sonar Inc. announced that it has acquired the underwater technology and IP formerly owned by Marine Robotics Inc.  The acquired assets include all underwater robotics technology, IP and related physical assets including an operational SQX-500 UAV.  Marine Robotics ceased operations following the receivership of its parent, Marport Deep Sea Technologies Inc.  Most of the engineers previously employed by Marine Robotics are now Kraken employees.

According to Karl Kenny, Kraken President and CEO: "This acquisition brings us a significant underwater technology and IP portfolio and continues to build on our sensors-to-systems strategy to be a market leader in the Unmanned Maritime Systems industry."

Deal terms were not disclosed.