Kraken agrees C$615 million Covelya acquisition
Kraken Robotics signed an agreement to acquire Covelya Group from Sonardyne Holdings.
Evidence notes
- Kraken announced the signed acquisition agreement on March 3, 2026.
- Total consideration was C$615 million, comprising C$480 million in cash and C$135 million in Kraken shares.
- The proposed combination joined Kraken with Covelya companies spanning navigation, sonar, imaging, communications and subsea software.
Company context
Kraken-owned group supplying subsea sensing, navigation, communications, imaging and software.