Kraken Robotics Announces Regulatory Approval of its Acquisition of Covelya Group

Executive Summary

• Kraken Robotics Inc. has secured all required regulatory and stock exchange approvals to proceed with its pending acquisition of Covelya Group Limited.
• The transaction is scheduled to close on July 2, 2026, pending the satisfaction of customary closing conditions.
• Post-closing, Kraken will integrate Covelya’s portfolio to establish a global leader in underwater platforms and subsea sensor/monitoring systems.

Key Details

• Transaction Status: All regulatory and stock exchange approvals for the acquisition have been received.
• Expected Closing Date: July 2, 2026 (subject to customary closing conditions).
• Original Announcement Date: March 3, 2026.
• Target Company: Covelya Group Limited, a leading international provider of mission-critical underwater technology solutions.
• Target Subsidiaries: Sonardyne International Limited, EIVA A/S, Forcys Limited, Wavefront Systems Limited, Voyis Imaging Inc., and Chelsea Technologies Ltd.
• Strategic Rationale: Integration aims to create a global leader in mission-critical solutions for underwater platforms and subsea sensors/monitoring systems.
• Acquirer Focus: Kraken Robotics specializes in subsea intelligence, 3D imaging sensors, power solutions, and robotic systems, including synthetic aperture sonar, sub-bottom imaging, LiDAR, and pressure tolerant batteries.

Notable Quotes

• “We are excited to have received final regulatory approval for our highly strategic and transformative acquisition of Covelya Group,” said Greg Reid, President and CEO of Kraken Robotics. “Upon closing, our focus will shift to welcoming Covelya’s employees and to creating a global leader in mission-critical solutions for underwater platforms and subsea sensors/monitoring systems.”