St. John’s-based marine technology company Kraken Robotics has agreed to acquire UK-based Covelya Group for $615 million, expanding its presence in subsea technology and the growing defence market.
The deal will combine Kraken’s underwater robotics, sensors, and batteries with Covelya’s portfolio of navigation, positioning, and imaging technologies used in maritime defence and commercial operations. Covelya’s subsidiaries include Sonardyne, EIVA, and Wavefront Systems. Once completed in the second quarter of 2026, the combined company will employ roughly 1,200 people and operate more than 450,000 square feet of production space worldwide. Kraken will remain headquartered in Canada and led by its existing management team.
Want to know more? Check out the source code on BetaKit.