Aquaculture Industry Supplier Expands with Strategic Acquisition
Bluefront-backed Seaqloud strengthens its sensor technology portfolio.
Seaqloud, a company owned by Bluefront, has announced the acquisition of
Sematek, a Norwegian enterprise specializing in sensor technologies for the seafood sector. This marks Seaqloud’s third acquisition in two years, following its purchases of Naviaq, a software development firm, and Meox, known for its environmental monitoring products.
Enhancing Operational Efficiency in Aquaculture
Seaqloud provides an integrated suite of sensors and software designed to monitor environmental conditions affecting fish both above and below the surface. This technology not only optimizes operations but also streamlines logistics within the fish farming industry, ultimately enhancing efficiency.
Frode Næss, newly appointed managing director of Seaqloud, states, “The combination of Seaqloud’s sensor technology and software simplifies compliance with environmental monitoring requirements. By integrating Sematek’s products, we aim to improve operational reliability and provide better insights into maintenance needs.”
Innovative Solutions from Sematek
Sematek specializes in leak detection sensors for floating structures such as feed barges and closed cages. Additionally, their load cells monitor the stresses on mooring components, providing critical data that contributes to extending the lifespan of these structures and reducing structural failures.
The company also offers wave breakers and engages in the service and maintenance of equipment used in various aquatic environments, ensuring durability and safety for steel, composite, and other material constructions.
“Integrating our sensor products into a specialized software and sensor technology firm like Seaqloud is a robust match that will allow us to offer broader operational solutions for the aquaculture sector,” remarks Tore Birkeland, managing director at Sematek.
Geographical Expansion and Strategic Growth
Based in Bergen, Norway, Sematek will soon relocate to larger premises designed to serve as a central maintenance hub for its equipment offerings. Seaqloud is headquartered in Trondheim and has additional offices in Alta, Namsos, and Tromsø, with a service center in Alta.
The acquisition allows Seaqloud to expand its geographical presence into Vestlandet, a vital region for fish farming. Næss adds, “This acquisition is geographically complementary, enhancing our synergy and operations for both Sematek and Seaqloud.”
Although Sematek will continue to operate as a separate entity within the Seaqloud framework, all personnel will remain with Sematek, preserving its distinct presence while benefiting from the integration.
Completing the Acquisition
Upon finalizing the transaction, Seaqloud will own 100% of Sematek’s shares, acquired from the company’s founders and stakeholders. The financial specifics of the deal remain undisclosed.
In 2024, Sematek recorded operating revenues of NOK 13.2 million, marking a 44% increase from the previous year, with operating profits soaring tenfold from NOK 0.2 million to NOK 2.0 million.
Johan Kostveit, investment manager at Bluefront and board member for Seaqloud and Sematek, notes, “We began to observe the fruits of a re-focus on Sematek’s product offerings in 2024. We believe that the combination with Seaqloud will enable greater realization of potential.”
Seaqloud, recognized as one of the larger SaaS players in the seafood industry, is primarily backed by seafood investors Bluefront Equity, solidifying its position as a key player in the aquaculture technology market.
