Canadian marine technology company Kraken Robotics, Inc., St. John’s, Newfoundland, on Thursday announced it will acquire 3D at Depth, Inc., a U.S.-based provider of high-resolution underwater LiDAR technology, for $17 million.
The acquisition, expected to close around April 1, 2025, is subject to customary closing conditions, including lender approval, Kraken said.
3D at Depth specializes in subsea LiDAR imaging and measurements used for the inspection, monitoring, and analysis of underwater infrastructure. The company’s patented technology has supported more than 450 projects globally, serving industries such as offshore oil and gas, energy, defense, and marine research, with a growing customer base of more than 60 clients and over 25 master service agreements.
The company is based in Longmont, Col., with offshore service operations based out of Houston, and satellite offices in Norwich and Aberdeen, U.K.
“With 3D at Depth, we are acquiring an industry leader with an established customer base, strong gross margins, and gain an expanded presence in the United States,” said Greg Reid, president and CEO of Kraken Robotics. “This acquisition immediately strengthens our presence in the U.S. Gulf region, complementing our historically strong book of subsea services work in Northern Europe. This also provides Kraken with a strategic entry point into the U.S. market.
“Following completion of the acquisition, Kraken will be able to offer a more comprehensive suite of world-class subsea acoustic and optical imaging technologies and services, reinforcing our SAS, SeaVision and SeaPower capabilities. Additionally, establishing our first U.S.-based facilities enhances our ability to scale manufacturing operations in the U.S. as demand continues to grow,” said Reid.
Carl Embry, founder and CEO of 3D at Depth, said, “Integrating with Kraken enables us to accelerate our growth plans by expanding into new geographic markets where Kraken already has an established footprint. In addition, our combined technology and service offerings allow us to bring enhanced and more complete solutions to both of our client bases throughout the lifecycle of their operations.”
