Marine Link
Friday, September 30, 2016

Axia Announces Sale of Hydroid

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 Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News