Kraken Robotics Expands with Acquisition of 3D at Depth

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Kraken Robotics Expands with Acquisition of 3D at Depth

An announcement from Kraken Robotics Systems Inc ( (TSE:PNG) ) is now available.

Kraken Robotics Inc. has announced its acquisition of 3D at Depth, a leading American company specializing in underwater LiDAR services, for $17 million. This strategic move is expected to enhance Kraken’s capabilities in delivering high-resolution imaging and measurement solutions, thereby strengthening its position in the subsea technology market. The acquisition is anticipated to close by April 1, 2025, and is seen as a significant step in meeting the growing demand for accurate and cost-effective management of underwater assets.

More about Kraken Robotics Systems Inc

Kraken Robotics Inc. operates in the subsea technology industry, focusing on providing advanced underwater imaging and measurement solutions. The company is known for its high-resolution LiDAR technology and services, which cater to the needs of managing underwater assets and infrastructure efficiently.

YTD Price Performance: -14.56%

Average Trading Volume: 958,683

Technical Sentiment Consensus Rating: Sell

Current Market Cap: C$572.9M

For a thorough assessment of PNG stock, go to TipRanks’ Stock Analysis page.

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