Kraken Robotics Completes Acquisition of 3D at Depth
Canada-based marine technology company Kraken Robotics has finalized its purchase of 3D at Depth, a US-based subsea technology firm specializing in high-resolution LiDAR imaging. The acquisition, valued at $17 million, was announced on March 13, with Kraken Robotics acquiring 100% of 3D at Depth’s shares through a subsidiary.
3D at Depth now operates as a wholly-owned subsidiary of Kraken Robotics and will transition to the Kraken brand. The company offers advanced underwater measurement, inspection, and surveying solutions using LiDAR technology integrated onto various subsea platforms. These include diver platforms, remotely operated vehicles (ROVs), and uncrewed underwater vehicles (UUVs).
Greg Reid, President and CEO of Kraken Robotics, expressed enthusiasm about the acquisition, stating, “We are pleased to welcome 3D at Depth to the Kraken Robotics team and look forward to offering our comprehensive subsea intelligence solutions to our clients.” Reid highlighted that the combined technologies will provide best-in-class solutions for commercial, defense, and marine research sectors.
3D at Depth employs 56 people and has demonstrated significant financial growth, with a 20% compound annual growth rate (CAGR) over the past three years. In 2024, the company reported unaudited US GAAP revenues of $14 million, gross profit of $8.4 million (60%), and $1.1 million in operating income. The company’s headquarters and production facility are located in Longmont, Colorado, with additional operations in Houston, Texas, and satellite offices in Norwich and Aberdeen, UK.
This acquisition enhances Kraken Robotics’ subsea capabilities, providing a more comprehensive suite of solutions for its global customer base. The integration of 3D at Depth’s technology is expected to boost Kraken’s competitive edge in the marine technology sector.
