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Kraken Robotics acquires Covelya Group for $615M
Covelya Group expands Kraken Robotics' product offerings and total addressable market in subsea technology. The post Kraken Robotics acquires Covelya Group for $615M appeared first on The Robot Report.
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Kraken Robotics Announces Closing of Strategic Acquisition of Covelya Group Limited, Updated 2026 Guidance and Appointments to Executive Team
Kraken Robotics Inc. has successfully completed its acquisition of Covelya Group Limited for approximately $615 million, a deal that was previously announced and is subject to closing adjustments. This acquisition, finalized today, marks a significant expansion for Kraken Robotics, a company listed on the TSX Venture Exchange and OTCQB. The transaction is valued in Canadian dollars, reflecting the company's strategic move to enhance its capabilities and market presence in the robotics sector.
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