Axia Announces Sale of Hydroid

Tuesday, September 16, 2008

Axia Capital Partners, LP, announced that it has completed the sale of the assets and business of Hydroid to , a division of Kongsberg Gruppen, for approximately $80m and an earn-out based on Hydroid's 2008 and 2009 operating performance.

Hydroid is a manufacturer and supplier of Autonomous Underwater Vehicles (AUV) for military and commercial markets worldwide. The company was established in 2001 to manufacture, support and further develop the REMUS Autonomous Vehicle Technology, originally developed and licensed through an exclusive license with the Woods Hole Oceanographic Institution. Axia invested in Hydroid in December 2005 when Hydroid's revenues approximated $7.5 million. Hydroid's 2007 sales approximated $20 million and is projecting strong revenue growth in the coming years. Hydroid is headquartered in .

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NORDEN’s Dry Cargo Head Bonderup Resigns

Ejner Bonderup, Executive Vice President and member of the Executive Management in Dampskibsselskabet NORDEN A/S, has resigned from his position to take up a position in another shipping company.

Baltic Index Up for Eighth Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued its rise on Friday, for an eighth consecutive session,

Asia Tankers-VLCC Rates Expected to Soften

MidEast rates slip from two-week high on June 28; raft of new ships and repaired vessels weigh on rates. Freight rates for very large crude carriers (VLCCs)

 
 
Maritime Contracts Maritime Standards Naval Architecture Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1603 sec (6 req/sec)