Canadian technology company Kraken has acquired the underwater robotics technology and related intellectual property rights previously owned by Marine Robotics. Terms of the acquisition were not disclosed.

Marine Robotics ceased operations following the receivership of its parent, Marport Deep Sea Technologies. During its existence, Marine Robotics invested several million dollars in the development of unmanned technology and contributed to building ocean technology capability in St. John’s, Newfoundland.

“We believe that the ocean drone market is at an inflection point and set for major growth,” said Karl Kenny, President and CEO of Kraken. “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.”

According to Kraken, included in the assets acquired are: all underwater robotics technology, intellectual property and related physical assets, including an operational SQX-500 Unmanned Underwater Vehicle. In addition, the majority of the senior electrical, mechanical and software engineers that were previously employed by Marine Robotics are now Kraken employees.

“Military and commercial operators are starting to significantly invest in this market as the cost of utilizing drones is much less than conventional manned platforms,” said Kenny. “The acquisition of Marine Robotics’ technology, physical assets and intellectual property is a great accelerator for Kraken. Kraken is making a significant investment in underwater robotics technology with developments such as our recently announced KATFISH intelligent towbody platform. This acquisition will help support the growing needs of our military and commercial clients.”