Kraken Robotics, a St. John’s, Newfoundland-based marine technology company, has announced the $24.5 million CAD ($17M USD) acquisition of 3D at Depth, a Colorado-based subsea imaging firm specializing in underwater LiDAR technology.
The deal strengthens Kraken’s presence in the U.S. Gulf region and enhances its underwater surveying and asset integrity capabilities.
Advancing Subsea Optical & Acoustic Imaging
3D at Depth, with offices in Houston, the UK, and the U.S. Gulf region, provides LiDAR-based mapping and monitoring for industries such as:
- Oil & gas (leak detection, pipeline inspections, and structural monitoring).
- Renewable energy (offshore wind farm assessments).
- Defense and underwater infrastructure management.
Kraken Robotics CEO Greg Reid emphasized the strategic value of the deal:
“With this acquisition, we will offer a more comprehensive suite of subsea imaging technologies while expanding our footprint in the U.S.”
Advertisement
Key Benefits of the Acquisition
- Strengthens the presence in North America, complementing its existing work in Northern Europe.
- Expands Kraken’s product portfolio by integrating 3D at Depth’s LiDAR with Kraken’s SeaVision technology.
- Enhances Kraken’s ability to scale U.S. operations, supporting growing demand for subsea data solutions.
Growing Market & Industry Impact
- 3D at Depth has completed 450+ marine surveying projects across 18 countries.
- 45% average project value growth over three years, working with major clients like Exxon, Shell, and BP.
- Kraken’s stock surged 323% in 2024, adding $587M to its market cap and securing the top spot on the 2025 TSX Venture 50 list.
The acquisition of 3D at Depth, expected to close by April 1, marks a significant milestone in subsea imaging, equipping the company with cutting-edge technology for underwater exploration and infrastructure monitoring.
