Developer of Wave Glider® ocean robot boosts ocean data collection capabilities
ST. LOUIS, Dec. 6, 2016 - Boeing [NYSE: BA] has entered into an agreement to acquire Liquid Robotics, a market leader in autonomous maritime systems and developer of the Wave Glider ocean surface robot, to grow its seabed-to-space autonomous capabilities.
"With Liquid Robotics' innovative technology and Boeing's leading intelligence, surveillance, and reconnaissance solutions, we are helping our customers address maritime challenges in ways that make existing platforms smarter, missions safer and operations more efficient," said Leanne Caret, president and CEO of Boeing Defense, Space & Security.
In September 2014, Boeing and Liquid Robotics entered into a teaming agreement resulting in extensive integration on the Sensor Hosting Autonomous Remote Craft (SHARC®), a version of the Wave Glider. The SHARC, integrated with Boeing's advanced sensors, connects intelligence, surveillance and reconnaissance capabilities ranging from satellites to manned and unmanned aircraft to sub-surface crafts.
Liquid Robotics has designed and manufactured the Wave Glider, the first wave and solar-powered autonomous ocean robot, since its founding in 2007. With more than 1 million nautical miles traveled, the Wave Glider's capabilities address the challenges facing defense, commercial and science customers by making ocean data collection and communications easier, safer and immediate.
"I am proud of our team, culture, and relentless commitment to designing the best ocean surface robot in the maritime industry," said Gary Gysin, president and CEO of Liquid Robotics. "This acquisition allows us to leverage the strengths of one of the world's leading global companies while continuing to push our innovation to new levels."
Liquid Robotics has approximately 100 employees in California and Hawaii. The company will become a subsidiary of Boeing operating under its current business model and reporting to Kory Mathews, vice president of Autonomous Systems for Defense, Space & Security. The terms of the agreement were not disclosed. Completion of the transaction is subject to satisfaction of customary closing conditions.
For more information on Defense, Space & Security, visit www.boeing.com/. Follow us on Twitter: @BoeingDefense.
Liquid Robotics, Wave Glider, and SHARC are registered trademarks of Liquid Robotics, Inc.
Forward-Looking Information Is Subject to Risk and Uncertainty
Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding benefits and synergies of the transaction, and future business prospects, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and we undertake no obligation to update or revise any forward-looking statement, except as required by law. Specific factors that could cause actual results to differ materially from these forward-looking statements include the effect of global economic conditions, the ability of the parties to consummate the transaction, our ability to successfully integrate Liquid Robotics' business and realize anticipated synergies, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission.