Kongsberg Maritime is Divesting KM Geoacoustics Ltd

Following a strategic review, Kongsberg Maritime AS has decided to divest KM GeoAcoustics Ltd to the management in a Management Buy-Out. GeoAcoustics
Kongsberg Maritime is Divesting KM Geoacoustics Ltd
Kongsberg Maritime KM GeoacousticsKongsberg Maritime

Following a strategic review, Kongsberg Maritime AS has decided to divest KM GeoAcoustics Ltd to the management in a Management Buy-Out. 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.

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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