Kongsberg Maritime has signed an agreement to purchase the UK based sonar company GeoAcoustics Ltd of Great Yarmouth, for approximately NOK42m (approximately EUR5.3m).
The company says that the acquisition will enhance Kongsberg Maritime's market position as GeoAcoustics' products will complement Kongsberg's product portfolio.
GeoAcoustics has 30 years of experience in underwater acoustics. It has an excellent reputation in the market, especially for side scan sonars and technology for sub-bottom profiling. In 2007/08 GeoAcoustics had a turnover of approximately NOK42m and had 43 employees, including its subsidiaries in Mumbai and Singapore.
