Saab Acquires Seaeye

With the acquisition of Seaeye Holdings Ltd and its subsidiary Seaeye Marine, Saab is strengthening its position in the underwater area and in the offshore market. The deal complements and reinforces Saab Underwater’s unmanned underwater vehicle product portfolio. The purchase price is GBP13 million (US$22.65 million).

Chris Tarmey, Chief Executive Office, CEO, of Seaeye, sees many benefits in being part of Saab: ‘Seaeye has doubled its activities in the offshore area during the past years, but with a great potential to develop even further within areas such as maritime security and defence. The acquisition also brings interesting possibilities for technical synergies between Saab’s and Seaeye’s different underwater vehicles.’

Seaeye, with approximately 50 employees and annual sales of approximately GBP12 million (US$20.91 million), is located in Fareham, Hampshire on the south coast of England. The company develops and manufactures a complete range of electric powered ROV systems. The range extends from the portable Seaeye Falcon to the medium work class Panther Plus.

The operation started in 1987 and Seaeye is the leading supplier of electrical ROVs to the offshore oil and gas industry. During the latest years, Seaeye has also further developed its products and now also delivers vehicles for security, salvage and coastal observation tasks.

Saab Underwater Systems focuses on sensor systems, precision engagement systems, remotely operated and autonomous underwater vehicles, i.e. ROVs and AUVs. Saab serves the global market with products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers´ changing needs.