Kraken Acquires Synthetic Aperture Sonar Rights
Canada-based Kraken Sonar Systems has acquired all Intellectual Property (IP) rights to the AquaPix Synthetic Aperture Sonar (SAS) technology platform from Marport Deep Sea Technologies.
Kraken was recently spun out from Marport and is headquartered in St. John’s, Newfoundland. Kraken’s senior management team includes Karl Kenny as president and CEO, Dr Marc Pinto as chief technology officer, Sean Chapman as chief sonar engineer, and David Shea as engineering manager.
According to Cyril McKelvie, president and CEO of Marport, the development of the AquaPix SAS platform has been incubated in the company for the past two years. The transaction with Kraken provides an opportunity for successful product commercialisation while ensuring the shareholders to participate in upside success. It also enables both Marport and Kraken to capitalise on their respective strengths, pursue new business opportunities and lead their target markets.
AquaPix offers both military and commercial customers a value proposition. It provides comparable or better imaging performance to military SAS products – with a price point that’s competitive with commercially available side scan sonar. In the face of continuing budget pressures, both naval forces and seabed survey companies understand and appreciate the benefits of the high-performance/low-cost value proposition offered by AquaPix.
The SAS technology assets consist of all hardware and software intellectual property targeted to military and commercial applications.
