Kraken Robotics closes $615 million acquisition of Covelya Group, updates 2026 guidance

M&A · Partnership
โดย GlobeNewswire·Read original
Summary · why it matters

Kraken Robotics has closed its acquisition of Covelya Group for approximately $615 million, subject to closing adjustments. The deal was funded with about $480 million in cash and roughly $135 million through the issuance of 15,882,352 common shares at a deemed price of $8.50 per share. Kraken updated its 2026 guidance to include Covelya, now expecting consolidated revenue between $290 million and $320 million and adjusted EBITDA of $65 million to $75 million. The company also announced a new organizational structure, promoting Bernard Mills to President, and expects approximately $10 million in cost synergies within 24 months.

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Off-coverage companies 2

Kraken Robotics Inc.Private▲ Positive
Capitalrelevance

Closed acquisition of Covelya Group, funded with cash and shares, and raised 2026 guidance with expected synergies.

Covelya Group LimitedPrivate▲ Positive
Capitalrelevance

Acquired by Kraken Robotics for $615 million, providing a liquidity event and valuation.

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