Saab Seaeye acquires Hydro-Lek

Sept. 3, 2013 at 11:34 AM   |   0 comments

LINKOPING, Sweden, Sept. 3 (UPI) -- Saab Seaeye of Britain says has enhanced its product portfolio of remotely operated underwater vehicles through the acquisition of Hydro-Lek Ltd.

Hydro-Lek, a British company, is a manufacturer of manipulators and tooling for remotely operated vehicle (ROV) industry and defense.

"We see a clear synergy between the two companies as manipulators and tools are key components in the design and function of underwater vehicles," Jon Robertson, managing director of Saab Seaeye, a British subsidiary of Saab of Sweden. "Our ability to offer and support a complete ROV and tooling solution will bring significant benefits to the market."

Financial and other terms of the completed transaction were not disclosed.

Hydro-Lek will now operate as a fully owned subsidiary of Saab Seaeye, which is part of the underwater systems operation within Saab's Dynamics business area.

Saab Seaeye produces remotely operated, autonomous and hybrid underwater vehicles.

Hydro-Lek has a workforce of about 25 employees.

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