Frontier IP portfolio company has stake acquired by DeepOcean

DeepOcean UK, a subsidiary of DeepOcean Group Holding BV, has acquired a 50 per cent stake in Advanced Underwater Surveys (ADUS), a Frontier IP portfolio company.

DeepOcean UK, a subsidiary of DeepOcean Group Holding BV, has acquired a 50 per cent stake in Advanced Underwater Surveys (ADUS), a Frontier IP portfolio company.

Frontier IP is a FTSE-listed small-cap company specialising in the commercialisation of university intellectual property. It acquired its interest in ADUS through a partnership with the University of Dundee.

In return for commercialisation support, Frontier IP is entitled to receive equity in each spin-out at the point of incorporation. In its last financial year, Frontier IP received equity in three new spin-out companies during the year.

ADUS operates in the marine salvage market providing subsea 3D visualisations. It is known for high profile work- such as a survey of the wreck of the oil rig Deepwater Horizon in the Gulf of Mexico and, more recently, the stricken cruise ship Costa Concordia in Italy.

DeepOcean Group is an integrated provider of services and technologies for the subsea industry. Following DeepOcean UK's acquisition of a stake in ADUS, it will form ADUS DeepOcean.

Bart Heijermans, DeepOcean Group Holding BV Chief Executive Officer, stated: "This acquisition enhances the quality of the services we offer to our customers in the oil and gas and renewables industries. As part of this acquisition ADUS will commit to a research and development programme to further develop the visualisation software used by ADUS."

ADUS Co-founder, Mark Lawrence said: "The acquisition of ADUS by DeepOcean is an excellent opportunity for all concerned; ADUS' data acquisition and visualisation technologies will add value to DeepOcean's core services, whilst providing ADUS with global access and resources it needs to grow in the energy market."

MF

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Four investment trusts for income investors to buy now
Investment trusts

Four investment trusts for income investors to buy now

Some high-yielding listed lending funds have come through the crisis with flying colours. David Stevenson picks four of the best.
12 Apr 2021
Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021