Kraken Sonar Becomes Kraken Robotics, Wins $2M Contract

Kraken Sonar has changed its name to Kraken Robotics and that effective Friday, September 22, 2017, it will begin trading under its new name.

The company’s stock symbols will remain the same. The company’s Canadian operating subsidiary, Kraken Sonar Systems has been renamed Kraken Robotics Systems.

While the public company name and Canadian operating subsidiary names will have changed, there has been no change to the company’s ownership or corporate address.

The name change is intended to reflect Kraken’s evolution from manufacturing sensors to supplying complete robotic systems, software and services in the global unmanned maritime systems (UMS) market, the company explained.

Karl Kenny, Kraken president and CEO said, “Our new name reflects the company’s broader commitment and expertise in driving the innovations needed to shape the future of unmanned maritime systems. We expect that the UMS market will soon evolve from research, develop and testing programs into significantly larger procurement opportunities for Kraken.”

Furthermore, Kraken Robotic Systems has been awarded a contract valued at over $2 million.

The contract entails the delivery of sensors, underwater robotics and software.

Delivery of the entire contract is expected in 4Q 2017. Further contract terms and program details are confidential.

Share this article

Follow Subsea World News

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Global Petroleum Show (GPS)

The Global Petroleum Show Conference is a comprehensive three-day program where…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Decom Offshore 2019

As an established industry event, Decom Offshore 2019 provides delegates with the valuable opportunity to network…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >