Hydroid, Inc. (“Hydroid”) has been acquired by Huntington Ingalls Industries (“HII”) for $350 million. HII acquired Hydroid to further support its strategy of providing leading edge autonomous unmanned underwater vehicles (“UUVs”) to the U.S Government and key allies. Hydroid is a wholly owned indirect subsidiary of Kongsberg Maritime AS, a subsidiary of Kongsberg Gruppen ASA (“KONGSBERG”).
Hydroid designs and manufactures state-of-the-art robotic solutions for use in a number of applications including defense, marine research and commercial. Hydroid has over 15 years of experience providing the U.S. Navy and its allies with the most combat-proven UUVs in the world. For intelligence, surveillance and reconnaissance applications, Hydroid’s UUVs deliver sensors to sensitive areas, collecting data in all operational environments. Their vehicles have also been involved with undersea mine countermeasures that have helped save lives. Hydroid’s UUVs located Air France Flight 447 wreckage and generated 3D mapping of the Titanic. Their vehicles offer scientists data relevant to climate change and other environmental issues.
About Huntington Ingalls Industries
Headquartered in Newport News, Virginia, Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII’s Technical Solutions division supports national security missions around the globe with unmanned systems, defense and federal solutions, nuclear and environmental services and fleet sustainment. HII employs more than 42,000 people operating both domestically and internationally
About Kongsberg Gruppen ASA (“KONGSBERG”)
Headquartered in Kongsberg, Norway, KONGSBERG is a leading global technology corporation delivering mission-critical solutions with extreme performance for customers that operate under extremely challenging conditions. The group has fulfilled demanding customers’ needs and adapted to changing market conditions throughout its proud 200-year-old history. KONGSBERG operates in numerous sectors including: deep-sea, digital, defense, merchant marine, oil and gas, fisheries, aerospace and space. KONGSBERG has 11,000 employees worldwide.
Philpott Ball & Werner was the exclusive M&A advisor to KONGSBERG and Hydroid. Detailed terms of the transaction were not disclosed.
