Boeing Agrees to Acquire Liquid Robotics
December 06 2016 - 4:50PM
Dow Jones News
Boeing Co. agreed to acquire Liquid Robotics, maker of a wave
and solar-powered autonomous robot, building on a collaboration
between the companies and expanding Boeing's capabilities in
unmanned underwater vehicles.
Liquid Robotics's ocean robot, called the Wave Glider, is used
for ocean data collection and communications. In September of 2014
Boeing and Liquid Robotics entered a collaboration deal on a
version of the Wave Glider to enhance its capabilities.
Financial terms weren't provided for the deal, the second
acquisition of an unmanned undersea vehicle maker this year by a
major defense firm. Rival General Dynamics Corp. acquired submarine
robot maker Bluefin Robotics during February.
Boeing executives have been upbeat about the future of the
undersea business, though some rivals said the Navy has been slow
to come up with deals for their use after encouraging industry to
invest heavily in development.
"There's a lot happening," said Leanne Caret, chief executive of
Boeing's defense arm in an interview on the sidelines of a defense
conference last weekend.
Ms. Caret said Boeing had received inquiries from a number of
potential government customers about the Echo Voyager, a 51-foot
unmanned submarine it has already developed, as well as from
companies in the energy sector that make extensive use of
underwater vehicles.
Write to Tess Stynes at tess.stynes@wsj.com and Doug Cameron at
doug.cameron@wsj.com
(END) Dow Jones Newswires
December 06, 2016 16:35 ET (21:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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