XOCEAN Acquires 4D Ocean
Ocean data company XOCEAN announced on Wednesday that it has completed the acquisition of autonomous hydrographic survey company 4D Ocean.
The announcement follows the news of XOCEAN’s successful €7.9 million funding round earlier this month.
XOCEAN, which uses marine robotics known as unmanned surface vessels (USVs) to collect ocean data, has recently delivered projects for clients including BP, Equinor, PX Group and the UK’s Maritime and Coastguard Agency. The services provided by XOCEAN include mapping the seabed, inspecting subsea structures and monitoring the environment.
Currently XOCEAN has USVs in operation in the UK, Azerbaijan, Trinidad and Canada with plans to build an additional 22 USVs over the next 12 months and recruit an additional 140 employees to service the market demand.
4D Ocean Founder and CEO, Duncan Mallace said “Both companies have been growing together at an unprecedented rate and it was obvious that there was great synergy, both in complimentary skills and in our vision. It is an exciting time to be in the industry and together we can continue to transform it.”
Commenting on the acquisition, James Ives, CEO, XOCEAN said, “Combining XOCEAN’s innovative technology and 4D Ocean’s deep industry expertise we look forward to expanding our services as we continue to deliver operational excellence to our clients.”