US-based seabed survey and ocean exploration company Ocean Infinity on Tuesday said it had agreed to acquire the Sweden-based subsea survey firm MMT.
"Ocean Infinity and MMT are excited to announce an acquisition that brings together MMT’s deep expertise and established track record as a distinguished marine survey and data analytics provider and Ocean Infinity’s best-in-class robotic technology and operational expertise," the companies said without sharing the financial details of the transaction.
"The combined force will maximize the potential of Ocean Infinity’s fleet of Autonomous Underwater Vehicles (AUVs), and the soon-to-be launched Armada fleet of uncrewed, low-emission, robotic ships. The company will be uniquely placed to support its international clients’ data acquisition requirements, working across multiple sectors including, energy, subsea cables, government, and defense," Ocean Infinity added.
Following the acquisition by Ocean Infinity, MMT will continue to operate under the MMT brand. The enlarged group will have a headcount of over 300 people and will operate from an expanded geographical footprint with offices in the US, Sweden, UK, Singapore and Norway.
Per-Olof Sverlinger, CEO of MMT said: “These are two world-leading companies with highly complementary competencies that are joining to strengthen our unique positions and our continued international expansion and development. This is a highly positive development for all MMT stakeholders. Our clients will continue to receive our trademark, personalized levels of support, but will now also be able to access an expanded range of services. For our team it opens many exciting opportunities and the chance to be on the cusp of the wave at a time of real change in our industry.”
Ola Oskarsson, founder of MMT said: “We are a company with unique knowledge and unique employees, with a passion for what we do. As part of Ocean Infinity we can create new opportunities for our clients and our team and enjoy continued growth. Ocean Infinity has the ambition to be at the absolute forefront of technology when it comes to future analysis of the sea and seabed, which is a perfect combination for our skillset. I am proud of our past and extremely excited about our future.”
Oliver Plunkett, Ocean Infinity’s CEO said: “When we started Ocean Infinity we revolutionized the industry with the deployment of AUVs on an unprecedented scale and we are set to push the boundaries again with our fleet of uncrewed low-emission robotic vessels. To achieve our ambition of transforming operations at sea through innovation and technology we need the very best people who share our passion for creating safer and more sustainable ways of working.
"I’m thrilled that we are being joined by a highly impressive group of new colleagues from MMT who collectively bring with them decades of knowledge, experience and a track record of excellence. With the team from MMT alongside us I have no doubt we will exceed all expectations and create the leading ocean and seabed data analytics business in the world.”