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Axia Advises Hydroid on $80 Million Acquisition by Kongsberg Maritime AS
Burlington, MA - Axia Advisors is
pleased to announce that we advised Hydroid, LLC, a leading manufacturer of
Autonomous Underwater Vehicles (AUV) for military and commercial markets, on its
recent sale to Kongsberg Maritime. Kongsberg Maritime AS is wholly owned by
Kongsberg Gruppen ASA, headquartered in Kongsberg, Norway.
Chris von Alt, President and CEO of Hydroid, LLC stated, "As a Kongsberg
company, Hydroid will continue to improve the products and services we offer, so
they will be of greater value to our customers. The strategic fit is very
important to our shareholders, and we are grateful to Axia Advisors for their
contributions to this remarkably successful outcome."
Background
Hydroid was founded 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. REMUS is the
product of over 15 years of leading edge research and development, culminating in the world's most capable and reliable compact AUV. Hydroid employs
50 employees in the U.S. and U.K., and manufactures REMUS vehicles at its state
of the art facility in Pocasset, MA.
About Axia Advisors, LLC
www.axia-partners.com/axia_advisors
Axia Advisors, LLC is a leading boutique investment bank that specializes in
developing profitable relationships between buyers, sellers and investors in
industrial technology. Our unique combination of engineering know-how and
hands-on management expertise provides public and private companies with deep
domain expertise, actionable advice and best in class execution. As an affiliate
of Axia Partners, Axia Advisors has been providing middle market industrial
technology clients with strategic advisory, capital raising and M&A services
since 2004. For more information about Axia Advisors, please contact:
John F. Ippolito
Managing Director
(781) 273-6062
MEDIA CONTACT
Lisa A. Maini
myMarketingManager
(617) 642-7070
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