Wire

Kraken Robotics closes C$615 million Covelya deal and lifts its 2026 revenue outlook to as much as C$320 million

Kraken Robotics completed its acquisition of UK-based Covelya Group, the parent of Sonardyne, EIVA, Forcys, Voyis and Chelsea Technologies, on July 2, 2026 for about C$615 million in cash and shares. The Canadian sonar and subsea battery maker raised its 2026 revenue guidance to C$290 million to C$320 million from C$165 million to C$175 million.