Kongsberg sells Hydroid
Kongsberg Maritime signed an agreement with Huntington Ingalls Industries (HII) to sell its underwater technology subsidiary Hydroid.
The deal is valued at $350 million, according to Kongsberg, which confirmed the decision in a statement on 4 February.
HII is the US Navy’s largest supplier of naval vessels and its role in equipping the US Navy will increase as the US Navy is currently Hydroid’s largest customer.
Alongside the sale of Hydroid, the agreement sets out a framework for future cooperation between the two defence companies for projects concerning underwater technology and maritime solutions.
Kongsberg Maritime originally acquired Hydroid in 2007 for $80 million. President and CEO of the Kongsberg group, Geir Håøy said: ‘Kongsberg Maritime has driven technology development and created considerable value during the 12 years it has owned Hydroid.
‘We now look forward to working together with HII on new maritime solutions and at the same time strengthening our world-leading underwater environment in Horten.’
You may also like
More from Naval Warfare
-
![RTX confirms US Marine Corps and US Navy acquire Hadalus UUV]()
RTX confirms US Marine Corps and US Navy acquire Hadalus UUV
RTX told Shephard that the Hadalus UUV has been procured by the US Marine Corps and the Office of Naval Research for operational experimentation as the company prepares additional demonstrations with the US Navy, NATO and AUKUS partners.
-
![The UK joins the movement towards joint procurement]()
The UK joins the movement towards joint procurement
The UK will spend an estimated US$3.89 billion over the next decade in joint naval programmes, a lot of which will be in cooperation with Norway.
-
![Rheinmetall’s GMF 140: Ambitious frigate or market misfit?]()
Rheinmetall’s GMF 140: Ambitious frigate or market misfit?
Rheinmetall has unveiled its first next-generation frigate design, showing ambitions to compete as a surface combatant prime contractor. While the company is targeting North America, analysts believe the concept may be better positioned for future European programmes.
-
![US Navy $76.6bn award provides stability for submarine production]()
US Navy $76.6bn award provides stability for submarine production
The US Department of War’s US$76.6 billion Columbia-and Virginia-class submarine contract gives industry demand certainty as Washington seeks to rebuild its shipbuilding base.
