Kongsberg Wraps Up Hydroid Sale

Kongsberg Maritime has completed the sale of its US-based underwater technology company Hydroid to Huntington Ingalls Industries (HII).

The two companies entered into $350-million sale and purchase agreement in February this year.

Back in 2007, Kongsberg Maritime acquired Hydroid for $80 million.

In connection with the transaction, Kongsberg Maritime and HII have entered into a strategic alliance agreement effective as of today.

The agreement relates to underwater technology from Kongsberg’s underwater environment in Horten, as well as a wider range of Kongsberg’s maritime solutions.

The deal aims to strengthen both parties’ abilities to sell their products and solutions to both US and global customers in the underwater segments.

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