Kongsberg Discovery has reached agreement to acquire Naxys Technologies AS. The Bergen-based company is a world leader in technology for underwater environmental monitoring, with a specialism in recognizing the sound of oil and gas leaks.
The oceans are crucial for solving global challenges related to climate, food and security. CEO Geir Håøy of KONGSBERG points out that Naxys fits well into the company's technology portfolio.
"As a technology company and ocean space expert, we have developed world-leading solutions to map, monitor and understand the oceans, which actually cover 70 per cent of the Earth's surface and remain largely unexplored. The acquisition of Naxys fits well into our technology portfolio and our growth ambitions as an ocean space expert," says Håøy.
Naxys Technologies will be part of Kongsberg Discovery, a business that was spun off from Kongsberg Maritime and established as a separate business area within Kongsberg Gruppen in 2023. The rationale was to strengthen the company's position and investment in advanced sensor and underwater robotics.
"Kongsberg Discovery has delivered solid organic growth so far and this acquisition is the first step in the inorganic part of the growth strategy. This move allows Kongsberg Discovery to strengthen its technology platform, equipping the business to meet the ever-increasing demand for both sustainability and safety," says Håøy.
Environmental monitoring as a core competence
Martin Wien Fjell, CEO of Kongsberg Discovery, points to the importance of the company's cutting-edge expertise in passive hydroacoustics as crucial to the transaction. Naxys provides environmental monitoring for the oil and gas industry, but is also well-positioned for growth in both the research and defence markets.
"Naxys Technologies ensures that oil and gas companies can be quickly notified of any leaks. This is becoming increasingly important now that the demands for sustainable operations are increasing globally," says Fjell.
Expanding in-house technology expertise
Protecting marine life and monitoring critical infrastructure are important focus areas for Kongsberg Discovery.
"We have developed several market-leading products in hydroacoustics since the first sonar was launched in the 1950s. With Naxys' technology expertise, we further strengthen this position, enabling us to deliver an even broader product portfolio to the market," says Fjell.
World-leader in leak detection
Naxys Technologies was formed in 1999 and is now a world leader in passive acoustic leak detection. Its customers are mainly large oil and gas companies that use the technology to detect leaks, as well as monitor subsea rotating machinery such as pumps and compressors. The acquisition agreement was signed on 20 December, with the news announced in Bergen on 7 January.
Core passive hydroacoustics technology
As the new owner of Naxys Technologies AS, Kongsberg Discovery’s Fjell points to the company's strength in terms of expertise, experience and insight in an important sector for Kongsberg Discovery.
"The team in Bergen has built a strong business with technology that is a perfect fit for Kongsberg Discovery. Environmental monitoring using passive hydroacoustics is central to Naxys and is in line with the importance of sustainability and safety for our business. I look forward to getting to know all the employees and starting our collaboration as colleagues," he says.
Accessing the world market
Jens Abrahamsen is the general manager of Naxys Technologies and was one of the founders of the company in 1999. He highlights the opportunity the acquisition will provide for international growth.
"As part of KONGSBERG, we will now have an opportunity to grow further. In my opinion, there is only one technology company that has the strength and ambition that align with our way of thinking. It's Kongsberg Discovery," says Abrahamsen.
Maintaining operations in Bergen
Naxys Technologies AS has 28 employees in Hegreneset in Bergen. The company expects to pass a turnover of NOK 100 million in 2024. The company has a production, research and development department, as well as sales and service employees.
"This agreement is an important milestone in our history. I am convinced that Naxys will play an important role in our common future. It will also be nice to have an increased presence in Bergen," says Fjell, CEO of Kongsberg Discovery.
