Uncrewed vessel specialist Ocean Infinity has announced it is to acquire Swedish marine survey company MMT
MMT provides the offshore oil and gas, renewable energy and related industries with high-resolution marine surveys, asset integrity and construction support. It has long collaborated with Reach Subsea, another leading player in the market that, like Ocean Infinity, has moved into unmanned surface vessels.
The acquisition will combine MMT’s expertise and established track record as a marine survey and data analytics provider and Ocean Infinity’s robotic technology and operating expertise.
In a statement, Ocean Infinity said the deal would also enable it to maximise the potential of Ocean Infinity’s fleet of autonomous underwater vehicles (AUVs) and its soon to be launched Armada fleet of uncrewed, low-emissions, robotic ships, enhancing its ability to support clients’ data acquisition requirements in multiple sectors including energy, subsea cables, government and defence.
Following the acquisition by Ocean Infinity, MMT will continue to operate under the MMT brand. The enlarged group will have a headcount of over 300 people and will operate from an expanded geographical footprint with offices in the US, Sweden, UK, Singapore and Norway.
MMT chief executive Per-Olof Sverlinger said the companies have highly complementary competencies and are joining together to strengthen their positions and expand market share.
“This is a highly positive development for all MMT stakeholders,” said Mr Sverlinger. “Our clients will continue to receive our trademark, personalised levels of support, but will now also be able to access an expanded range of services. For our team, it opens many exciting opportunities and the chance to be on the cusp of the wave at a time of real change in our industry.”
MMT founder Ola Oskarsson said, “We are a company with unique knowledge and unique employees, with a passion for what we do. As part of Ocean Infinity we can create new opportunities for our clients and our team and enjoy continued growth.”
Ocean Infinity chief executive Oliver Plunkett said, “When we started Ocean Infinity we deployed AUVs on an unprecedented scale and are set to push the boundaries again with our fleet of uncrewed low-emissions robotic vessels.
“To achieve our ambition of transforming operations at sea through innovation and technology, we need the very best people who share our passion for creating safer and more sustainable ways of working. I’m thrilled that we are being joined by a highly impressive group of new colleagues from MMT who collectively bring with them decades of knowledge, experience and a track record of excellence.”
It is not clear yet what long-term effect, if any, the Ocean Infinity deal with MMT may have on the latter’s relationship with Reach Subsea, but Mr Sverlinger told OWJ that MMT and Ocean Infinity hope the collaboration with Reach Subsea will continue.
In a statement issued shortly after the Ocean Infinity deal was announced, Reach Subsea said, “Reach and MMT have a pool cooperation in which the risk and profit on certain vessels are shared, as well as a 50/50 ownership in Surveyor AS which owns two high-speed survey remotely operated vehicles.
“The successful cooperation between Reach and MMT will continue unchanged, with the only difference being that MMT is now owned by an industrial shareholder with strong ambitions. We will continue to build on the track record we have developed together, offering clients the same service they have been used to.”