U.S.-based developer of subsea autonomous robotic systems and software Nauticus Robotics has initiated a process to acquire compatriot SeaTrepid International, a provider of subsea robotic services.
Nauticus Robotics reported it had signed a definitive agreement to acquire all of the assets and business of SeaTrepid as part of what the company says is a strategic acquisition that underscores its commitment to innovation and revenue growth in 2025.
John Gibson will remain the CEO and President of the combined company, while SeaTrepid’s CEO Bob Christ will become the President of SeaTrepid Operations.
“Minimal ROV investment occurred in the last fifteen years industry-wide, which has caused some stagnation. We look forward to combining with Nauticus to extend ROV capabilities and enhance execution on a global scale,” said Christ .
Nauticus noted that the integration of its ToolKITT AI-driven autonomy software into SeaTrepid’s existing ROV fleet will showcase unprecedented advancements in power efficiency and operational performance across the industry.
The companies plan to maintain their current locations and workforces due to the complementary nature of the businesses and expectation of new project growth throughout 2025.
The combined company’s revenue is expected to be around nine times higher than that of standalone Nauticus in 2024.
The transaction is subject to customary closing conditions, including the consent of certain creditors of both parties to the transaction. Completion is expected in May.