General Oceans has announced that it has entered into a purchase agreement with MRV Systems, LLC.
The addition of MRV to General Oceans expands the Company’s capabilities in long-duration, autonomous data collection and strengthens its position as a global leader in underwater technology. MRV Systems has around 22 employees and has offices in San Diego, Wood Dale (HQ) and Seattle, increasing General Oceans’ US footprint. The Transaction will further enhance General Oceans’ growth strategy and enable collaboration between MRV and its existing brands, realising the benefits of the Group’s global capabilities. It marks yet another acquisition in accordance with General Oceans’ growth strategy and expands the recent track record of successful acquisitions.
About the MRV acquisition, Atle Lohrmann, President of General Oceans, said:
“MRV is a great fit for General Oceans, and we’re excited to have them join our growing Group. General Oceans has a proud tradition as a provider of advanced instrumentation and sensors to the scientific community making MRV a natural fit. With access to the Group’s extensive sales network and engineering experience, we believe we can develop MRV’s global presence quickly and explore new revenue opportunities as we move forward.”
Founded in 2010 as a spin-off from the Scripps Institution of Oceanography, MRV has become a trusted supplier of advanced profiling vehicles for ocean research, climate monitoring, and maritime domain awareness. It currently contributes meaningfully to the U.S. commitment of profiling floats to the Argo program. MRV is well established with strong US presence and serves customers such as NOAA, NASA, the U.S. Naval Oceanographic Office.
About joining General Oceans, Shawn Vasquez, President & CEO of MRV said:
“I am excited for the future of MRV as part of General Oceans. Collaborating across the Group will allow MRV to accelerate delivery of innovative solutions to meet our customers’ ocean technology needs. MRV is delighted to join a Group with a shared passion for continuously growing our knowledge of the ocean through ongoing research, development and innovation in the ocean technology space.”
Regarding the MRV sale, Fred Maas, outgoing Executive Chairman of MRV, stated:
"We are thrilled to participate in the announcement of General Ocean's acquisition of MRV Systems. From a tiny lab in San Diego with only the Scripps and Woods Hole Institutes of Oceanography as its customers, MRV grew to 3 offices in 3 states and over 30 customers. Most importantly, MRV has participated in a vast expanse of our knowledge of the world's oceans. We look forward to watching its continued success."
For more information on MRV, visit https://www.mrvsys.com/.