Kraken Robotics finalized its acquisition of Covelya Group Limited for approximately $615 million on July 2, 2026. This merger integrates Covelya subsidiaries Sonardyne and EIVA into Kraken’s operations. The transaction creates a comprehensive provider of subsea technology for the defense, offshore energy, and ocean science sectors.
Kraken significantly increased its 2026 financial outlook following the acquisition. The company now projects consolidated revenue between $290 million and $320 million. This guidance represents a substantial increase from the previous range of $165 million to $175 million.
Adjusted EBITDA is expected to reach $65 million to $75 million for the year. This new forecast rises from the prior estimate of $40 million to $50 million. The updated figures reflect the immediate financial impact of the merger.