Nauticus Robotics to Acquire 3D at Depth, Expanding Autonomous Underwater Capabilities

Nauticus Robotics, a leading developer of autonomous vehicles and robots for offshore industries, has announced its acquisition of 3D at Depth, a global leader in commercial subsea laser LiDAR inspection and data services. The deal, valued at approximately $34 million in stock, will enhance Nauticus’ capabilities in autonomous underwater maritime operations, including integrated sensor solutions and data collection and analysis.

The acquisition of 3D at Depth aligns with Nauticus’ vision of the future, which focuses on autonomy, data gathering, and analytics. By integrating 3D’s technology and expertise into its fleet, Nauticus aims to enhance the capabilities of its autonomous vehicles in the offshore market. This strategic move will increase the value and utilization of Nauticus’ fleet assets, positioning the company to capitalize on data acquisition and analytics for subsea operations.

3D at Depth, founded in 2009, is a pioneer in underwater laser LiDAR technology. The company’s advanced systems and services enable customers to map, monitor, and evaluate submerged assets, leading to increased project efficiencies, reduced operational costs, and improved asset and environmental awareness.

The acquisition is expected to provide compelling strategic and financial benefits for Nauticus. By adding 3D’s technology, offshore inspection, and data services, Nauticus expands its addressable market and accelerates its customer penetration in the offshore energy and renewables industries. The combination of Nauticus Robotics and 3D at Depth creates a differentiated offering for customers seeking safer, cleaner, and more cost-effective subsea services.

Under the terms of the agreement, 3D security holders will receive approximately 9.9326 shares of Nauticus common stock for each share of 3D common stock equivalent they own. Nauticus will also assume approximately $4.1 million of debt in the transaction. The deal is expected to close in the fourth quarter of 2023, subject to customary closing conditions and regulatory approvals.

Upon completion of the acquisition, 3D at Depth will operate as a division of Nauticus. The boards of both companies have unanimously approved the transaction, recognizing the significant value and potential synergies it brings.

Nauticus Robotics, with its focus on autonomous robots for data collection and intervention services, aims to provide customers with the necessary capabilities to support and maintain assets while reducing operational costs and environmental impact. The addition of 3D at Depth’s expertise will further strengthen Nauticus’ position as a leader in the ocean industries.

With this strategic acquisition, Nauticus Robotics is well-positioned to drive innovation and advancements in autonomous underwater operations, contributing to the growth and development of the offshore energy and renewables sectors.