Nauticus Robotics, Inc. has announced its acquisition of 3D at Depth, Inc., a commercial subsea laser LiDAR inspection and data services company, for $34 million in stock. The deal is set to enhance Nauticus’ autonomous underwater maritime capabilities and expand its market reach.
As part of the agreement, Nauticus will also take on $4.1 million of 3D at Depth’s debt. Each share of 3D common stock equivalent will be exchanged for approximately 9.9326 shares of Nauticus stock.
The acquisition of 3D at Depth is expected to accelerate Nauticus’ commercial market penetration, broaden its intellectual property portfolio, and establish operational expertise. It will also contribute to the company’s goal of enhancing its full spectrum of autonomous underwater capabilities.
In 2022, 3D at Depth reported revenue of $9.8 million, and Nauticus predicts that the company will continue to grow by over 20% in 2023.
The transaction is anticipated to close in the fourth quarter.
– LiDAR (Light Detection and Ranging): a remote sensing technology that uses lasers to measure distances and generate precise 3D maps.
– Autonomous vehicles: vehicles that can operate without human intervention.
– Subsea: relating to or situated beneath the sea.
– Penetration: the act or process of entering or gaining access to a market.