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.