Kongsberg Maritime is divesting KM Geoacoustics
Following a strategic review, Kongsberg Maritime AS (KM) has decided to divest KM GeoAcoustics Ltd. (GeoAcoustics) to the management in a Management Buy-Out (MBO).
GeoAcoustics has 12 employees and is a subdivision of the Sensors & Robotics division of KM. The company is located in Great Yarmouth, United Kingdom. GeoAcoustics has been manufacturing marine survey equipment for more than 42 years, and is a world-leading manufacturer of sonar survey systems for engineering geophysics and Naval survey applications. Principle product lines are swath bathymetry systems for shallow waters, side scan sonars and sub-bottom profilers.
“We are satisfied with achieving an amicable solution for GeoAcoustics and the team” says Arne Rinnan, Executive Vice President Sensors & Robotics in KM.
The transaction details are part of a non-disclosure agreement signed between KM and management of GeoAcoustics. The transaction is expected to close by year-end 2020.
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