Kraken Robotics completes acquisition of PanGeo

2 minute read
03 August 2021

On August 3, 2021, Kraken Robotics Inc. ("Kraken Robotics" or the "Company") (TSXV: PNG) (OTCQB: KRKNF) announced that it had completed its previously disclosed acquisition of PGH Capital Inc. 

PGH Capital operates its business through its subsidiaries, PanGeo Subsea Inc. and PanGeo Subsea Scotland Limited (collectively with PGH Capital, "PanGeo"). PanGeo is a services company specializing in high-resolution 3D acoustic imaging solutions for the sub-seabed with offices in St. John's, Newfoundland and Aberdeen, United Kingdom. Upon closing, PanGeo is now a wholly owned subsidiary of Kraken Robotic Systems Inc. 

Kraken Robotics is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries and thrusters, and underwater robotic systems. The Company is headquartered in Newfoundland with operations in Canada, the US, Germany, Denmark and Brazil, and is ranked as a Top 100 marine technology company by Marine Technology Reporter.

Gowling WLG advised Kraken Robotics with respect to this acquisition with a team that included Ian Mitchell, Daniel Scott, Josh Rosen and Garrett Hamel.

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