Marine technology business OTAQ has acquired electronic systems design business ROS Technology for £300,000.
Founded and managed by Dr Peter Robinson, ROS Technology is an innovative technology business which specialises in electronics and mechanical design in multiple industries including aquaculture and offshore.
Dr Robinson will join OTAQ as part of the deal, with responsibility for the continued development of the acquired ROS Technology products as well as joining the existing OTAQ R&D team. A technology innovator for over 40 years and formerly a founder of OTAQ and designer of the original SealFence product, he recently worked with OTAQ on a project for with the US aquaculture company, Minnowtech.
Phil Newby, Chief Executive at OTAQ, said: “We are very pleased to welcome Peter back to OTAQ through the acquisition of his business, ROS Technology. Peter is well known to the Directors of OTAQ and has a first-class track record for developing ground breaking technologies. At a time where OTAQ is broadening its product and service portfolio to a global client base looking for competitive advantage in its markets, this is an exciting addition to our research and development capability.”
For the unaudited year ended 30 June 2020, ROS Technology generated revenues of approximately £312,000 and made a profit before tax of approximately £152,000. As at 30 June 2020, its unaudited gross assets amounted to approximately £196,000.