Axia Advises Hydroid on $80 Million Acquisition by Kongsberg Maritime AS

BURLINGTON, MA, Aug 07 (MARKET WIRE) --
Axia Advisors is pleased to announce that we advised Hydroid, LLC, a
leading manufacturer of Autonomous Underwater Vehicles (AUV) for military
and commercial markets, on its recent sale to Kongsberg Maritime.
Kongsberg Maritime AS is wholly owned by Kongsbery Gruppen ASA,
headquartered in Kongsberg Norway.

Chris von Alt, President and CEO of Hydroid, LLC, stated, "As a Kongsberg
company, Hydroid will continue to improve the products and services we
offer, so they will be of greater value to our customers. This strategic
fit is very important to our shareholders, and we are grateful to Axia
Advisors for their contributions to this remarkably successful outcome."

Background

Hydroid was founded in 2001 to manufacture, support and further develop
the REMUS Autonomous Vehicle Technology, originally developed and
licensed through an exclusive license with the Woods Hole Oceanographic
Institution. REMUS is the product of over 15 years of leading edge
research and development, culminating in the world's most capable and
reliable compact AUV. Hydroid employs 50 employees in the U.S. and U.K.,
and manufactures REMUS vehicles at its state of the art facility in
Pocasset, MA.

About Axia Advisors, LLC

Axia Advisors, LLC is a leading boutique investment bank that specializes
in developing profitable relationships between buyers, sellers and
investors in industrial technology. Our unique combination of engineering
know-how and hands-on management expertise provides public and private
companies with deep domain expertise, actionable advice and best in class
execution. As an affiliate of Axia Partners, Axia Advisors has been
providing middle market industrial technology clients with strategic
advisory, capital raising and M&A services since 2004.

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