XOCEAN Adds 4D Ocean
- Business & Finance
Ocean data company XOCEAN has completed the acquisition of 4D Ocean, a specialist autonomous hydrographic survey company.
The announcement follows the news of XOCEAN’s €7.9 million funding round.
4D Ocean founder and CEO, Duncan Mallace, said: “Both companies have been growing together at an unprecedented rate and it was obvious that there was great synergy, both in complimentary skills and in our vision. It is an exciting time to be in the industry and together we can continue to transform it.”
Currently XOCEAN has USVs in operation in the UK, Azerbaijan, Trinidad and Canada with plans to build an additional 22 USVs over the next 12 months and recruit an additional 140 employees.
James Ives, CEO of XOCEAN, said “We’re delighted to welcome Duncan Mallace and the team at 4D Ocean to XOCEAN. Combining XOCEAN’s innovative technology and 4D Ocean’s deep industry expertise we look forward to expanding our services as we continue to deliver operational excellence to our clients.”