Bureau Veritas Acquires HydrOcean
Testing, inspection and certification firm Bureau Veritas announced it has finalized the acquisition of HydrOcean, a French engineering company specializing in hydrodynamic digital simulation for the maritime industry.
HydrOcean was established in 2007 to provide design support for the construction of ships, offshore structures, racing yachts and marine energy systems, with a focus on assessing and optimizing hydrodynamic performance.
Bureau Veritas said HydrOcean’s services and simulation tools help reduce the risks, time and costs associated with ship design in a market driven by sustained demand from the shipping, offshore and yachting industries, and the emerging marine renewable energy sector.
Bureau Veritas CEO Didier Michaud-Daniel said, the HydrOcean acquisition enables Bureau Veritas to integrate a team of experts and innovative entrepreneurs. "The group is increasingly developing solutions combining its core testing, inspection and certification services with new technologies," Michaud-Daniel explained. "HydrOcean fits perfectly into this strategy thanks to its simulation tools and its technical expertise. Its services will complement those offered by the marine and offshore business, especially in reducing ship fuel consumption."
HydrOcean is based in Nantes, France, employs 18 engineers and had revenue of $3 million in 2014.