Ireland-based ocean data company XOCEAN has completed the acquisition of compatriot hydrographic survey company Geomara as part of its strategic global growth plan.
The acquisition follows the investment of €8 million in September last year aimed to accelerate XOCEAN’s growth.
Geomara has been providing expert advice and services to a variety of clients across the marine industry including renewable energy developers for over 15 years, XOCEAN said.
“Both companies pride themselves on delivering high-quality service to our clients, and it was obvious that there was great synergy, both in culture and in our vision. It is an exciting time to be in the industry and together we aim to continue to transform it,” Geomara owner and managing director, Finn Delaney , said.
James Ives , CEO of XOCEAN added: “We’re delighted to welcome Finn and the team at Geomara. Combining XOCEAN’s innovative technology and Geomara’s strong industry expertise we look forward to further scaling XOCEAN as we continue to deliver low impact, carbon-neutral ocean data to our clients.”
XOCEAN said it had tripled its headcount to 150 over the past 12 months and plans to grow it further to 300 over the next 18 months.
The company also plans to double its fleet size this year and has recently launched its newest XO-450 unmanned surface vehicle (USV), the X-16.
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