Jul. 2 at 8:58 PM
$KRKNF (Kraken Robotics) has officially closed its strategic acquisition of Covelya Group for approximately
$615 million, funded via
$480 million in cash and
$135 million in stock.
Following the closing, Kraken upgraded its 2026 guidance to
$290M–
$320M in revenue and
$65M–
$75M in adjusted EBITDA, targeting
$10 million in cost synergies within 24 months. The deal is projected to deliver low-to-mid double-digit EPS accretion in 2027. Alongside expanded credit facilities, the company has reorganized into Kraken Group and Kraken Robotics, promoting Bernard Mills to President and integrating several former Covelya leaders into the executive team.