Saab acquires UK underwater vehicle company Seaeye

Saab acquires UK underwater vehicle company Seaeye

With the acquisition of Seaeye Holdings Ltd and its subsidiary Seaeye Marine,
Saab is strengthening its position in the underwater area. The deal complements
Saab Underwater's underwater vehicle product portfolio with several successful
products and brings new markets within offshore. The purchase price is 13 MGBP.

“We see this as part of our strategy to strengthen our naval product portfolio
at the same time as it brings a strong international market position within
offshore and adds new possibilities within maritime security”, says Ingemar
Andersson, Executive Vice President of Saab.

Chris Tarmey, CEO of Seaeye, sees many benefits in being part of Saab:
“Seaeye is a successful company that has doubled its activities in the offshore
area during the past years, but with a great potential to develop even further
within areas such as maritime security and defence. Areas where Saab is strong.
The acquisition also brings interesting possibilities for technical synergies
between Saab's and Seaeye's different underwater vehicles”.

Seaeye, with approximately 50 employees and annual sales of approximately 12
MGBP, is located in Fareham, Hampshire on the south coast of England. The
company develops and manufactures a complete range of electric powered ROV
systems. The range extends from the portable Seaeye Falcon to the medium work
class Panther Plus. The operation started in 1987 and Seaeye is the leading
supplier of electrical ROVs to the offshore oil and gas industry. During the
latest years, Seaeye has also further developed its products and now also
delivers vehicles for security, salvage and coastal observation tasks.



For further information, please contact:
Lars Tossman, Managing Director, Saab Underwater Systems 
Tel: +46 734 460 510
www.saabgroup.com


Saab Underwater Systems is one of the world leaders in the area of underwater
systems, with special focus on littoral, shallow and difficult underwater
environments. The company focuses on sensor systems, precision engagement
systems, remotely operated and autonomous underwater vehicles, i.e. ROVs and
AUVs.

Saab serves the global market with world-leading products, services and
solutions ranging from military defence to civil security. Saab has operations
and employees on all continents and constantly develops, adopts and improves new
technology to meet customers' changing needs.