Posted December 10, 2019
Ocean data company XOCEAN has completed the acquisition of a specialist autonomous hydrographic survey company.
XOCEAN’s acquisition of 4D Ocean follows its successful €7.9m funding round earlier this month. XOCEAN collects ocean data using marine robotics known as Unmanned Surface Vessels (USVs). The services provided by XOCEAN include mapping the seabed, inspecting subsea structures and monitoring the environment.
James Ives, CEO at 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.”
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.”
XOCEAN has recently delivered projects for clients including BP, Equinor, PX Group and the UK’s Maritime and Coastguard Agency.
It currently 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.
By Rebecca Jeffrey