AKVA Group - M&A Activity 2023 | FinancialReports.eu

AKVA group ASA: Acquisition of controlling ownership in Submerged AS

AKVA group ASA (AKVA) is pleased to announce the acquisition of 51% of the

shares in Submerged AS (Submerged) to further strengthen its digital

capabilities.

Submerged has successfully developed and commercialized a camera system and

software for fish-welfare, lice counting and biomass measurement.

AKVA has the option to acquire 100% shares in Submerged in 2028 based on certain

conditions.

Knut Nesse, CEO of AKVA:

"The acquisition of the majority stake in Submerged is of great strategic

importance to AKVA and will further develop and complement our digital offerings

to the market. By combining Submerged with our current digital products such as

AKVA Fishtalk, AKVA Observe and AKVA Connect we are strengthening our AKVA

Fusion® platform and can now offer a complete digital solution to enhance

precision fish farming"

Dated: 22 August 2023

AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

Knut Nesse Chief Executive Officer

Phone: +47 51 77 85 00

Mobile: +47 91 37 62 20

Ronny Meinkøhn Chief Financial Officer

Phone: +47 51 77 85 00

Mobile: +47 98 20 67 76

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

About AKVA group ASA

AKVA group ASA is a global technology and service partner that deliver

technology and services that helps solve biological challenges within the

aquaculture industry. Good operational performance and fish welfare ensures

sustainability and profitability for the customer. This is the premise for

everything we deliver, from single components to services and complete

installations. In-depth aquaculture knowledge, extensive experience and a high

capacity for innovation characterizes and enables us to deliver the best

solutions for both land based and sea based fish farming.

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