Bureau Veritas has announced that it has finalised the acquisition of HydrOcean.
HydrOcean is a French engineering company specialised in hydrodynamic digital simulation for the maritime industry. It employs 18 engineers and recorded revenue of €2.7 million last year.
HydrOcean provides design support for the construction of ships, offshore structures, racing yachts and marine energy systems. Its services and simulation tools help reduce the risks, time and costs associated with ship design.
“The acquisition of HydrOcean enables Bureau Veritas to integrate an outstanding team of experts and highly innovative entrepreneurs. The Group is increasingly developing solutions combining its core testing, inspection and certification services with new technologies. HydrOcean fits perfectly into this strategy thanks to its simulation tools and its technical expertise. Its services will complement those offered by the Marine and Offshore business, especially in reducing ship fuel consumption,” commented Didier Michaud-Daniel, CEO of Bureau Veritas.
“We have already achieved successful projects with Bureau Veritas, under the technical and commercial cooperation agreement we have had for over a year. Today, we are looking forward to becoming part of one of the world’s leading classification societies and expanding our business into the international market,” said Erwan Jacquin, President and founder of HydrOcean.
Edited from press release by Callum O'Reilly