BlueHalo has acquired VideoRay for an undisclosed amount as part of efforts to expand its footprint in the unmanned maritime technology market and accelerate the development of unmanned underwater robots and related vehicles.
“VideoRay gives BlueHalo an immediate leading presence in the autonomous maritime systems market. This is a strategic expansion for us as we strive to become an all-domain provider of innovative defense technologies,” BlueHalo CEO Jonathan Moneymaker said in a statement published Friday.
“We are incredibly excited to bring VideoRay into BlueHalo and provide an expanded set of solution offerings to our customers as we seek to continue innovating at mission speed,” the previous Wash100 awardee added.
Offering Remotely Operated Vehicles in Mission-Critical Areas
Established in 1999, VideoRay develops small form-factor remotely operated vehicles, or ROVs, for use in mine countermeasures, explosive ordinance disposal, mobile diving, salvage and other mission-critical applications.
The Pottstown, Pennsylvania-based company’s Mission Specialist Defender platform and other underwater robotics systems are designed to carry a wide range of sensors and tooling and heavy payloads for underwater missions to support national security, object search and recovery, first responders, science, infrastructure examination and research efforts.
According to Moneymaker, VideoRay-built underwater robots are fielded across key domestic and international end-users.
“VideoRay’s proprietary hardware and software, coupled with our existing technology, will allow our enterprise to deliver a superior suite of products to support the warfighter in the ever-evolving next generation battlefield,” the BlueHalo chief executive added.
VideoRay CEO Chris Gibson stated that the company complements BlueHalo’s innovative platforms in the evolving battlefield and that its commitment to provide a wide range of options for global clients and partners will further expand under the Arlington, Virginia-based defense technology provider.
“BlueHalo was created to be a protective ring around everything we care about most – and the maritime domain is an increasingly critical area for the U.S. and allied navies and coast guards,” Gibson noted.
“Our open architecture enables us to support an extensive array of sensors and accessories, empowering our customers to select the ideal solutions for their agencies, organizations, and missions,” he added.
Houlihan Lokey and Sheppard Mullin acted as VideoRay’s exclusive financial adviser and legal counsel, respectively, in the transaction.
The acquisition came days after AeroVironment agreed to buy BlueHalo for approximately $4.1 billion in an all-stock transaction to form a diversified defense technology company with a portfolio of capabilities, including uncrewed platforms, space technologies, short- and long-range loitering munitions, cyber and electronic warfare systems.
