| July, 2008
Customers will benefit through a stronger technical support network and a broader portfolio of products
and capabilities.
Pocasset, MA - Hydroid, Inc. a leading manufacturer of Autonomous Underwater Vehicles (AUVs),
announced today that the company’s acquisition by Kongsberg Maritime, announced in December 2007,
has recently received U.S. Government approvals. Kongsberg and Hydroid expeditiously completed the
transaction.
Kongsberg Gruppen, headquartered in Kongsberg, Norway, is a technology group, employing over 4,400
employees based in 25 countries. It is comprised of two divisions, Kongsberg Defense and Aerospace,
and Kongsberg Maritime of which Hydroid will join. Kongsberg Gruppen reported revenues of
approximately $1.6 billion in 2007 and is listed on the Oslo Stock Exchange and traded under the ticker
KOG.
"The acquisition of Hydroid is within Kongsberg Maritime strategy to expand in the rapidly growing market
for AUV-based operations through a broader portfolio of products, wider presence in the market and
focused R&D efforts,” stated Rolf Arne Klepaker, Kongsberg Maritime Subsea Executive Vice President.
Hydroid was established in 2001 to manufacture, support and further develop the REMUS Autonomous
Underwater Vehicle (AUV) technology, originally developed, and licensed from, the Woods Hole
Oceanographic Institution. Located in Pocasset, Massachusetts, Hydroid offers a range of REMUS
vehicles, including systems rated for 6,000 meter operations, and has delivered over 150 systems in the
past seven years.
All the HUGIN vehicles and the REMUS vehicles can be customized for many applications which include:
hydrographic surveys, mine counter measure operations, harbor security operations, environmental
monitoring, debris field mapping, marine geological survey, inspection of underwater engineering
structures and pipelines, search and salvage operations, fishery operations, and scientific sampling and
mapping. Mr. Christopher von Alt, President of the newly formed Hydroid Inc, a Kongsberg company,
commented “This synergy of products and dedication to customer satisfaction will guarantee the highest
levels of quality and support to our AUV customers.”
For further information
contact Kevin McCarthy, Vice President of Marketing
at Hydroid at Tel 508-563-6565, e-mail kmccarthy@hydroid.com.
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