Bluefront Equity-owned Seaqloud has purchased Norway-based Sematek, a company that produces sensors for leak detectors in floating structures.
Bluefront purchased a majority stake in Alta, Norway-based Seaqloud in December 2022, and since that time, Seaqloud has gone on to acquire three companies in two years: Naviaq, Meox, and now Sematek.
Bluefront invested in aquaculture software firm Naviaq in October 2022, and soon after, the two companies merged in August 2023. Then, just months later, Seaqloud went on to purchase Meox’s environmental monitoring portfolio in November 2023.
Seaqloud said it will now own 100 percent of Sematek once all transactions have been completed and that it is acquiring its shares in the company from employees and the company’s founders. Neither party disclosed the financial details of the transaction; however, in 2024, Sematek had an operating revenue of NOK 13.2 million (USD 1.3 million, EUR 1.1 million).
The addition of Sematek will offer Seaqloud more sensor technology, allowing the company to offer a more complete suite of software to aquaculture operations.
“The combination of Seaqloud’s sensor technology and software makes it easier to comply with requirements for on-site environmental monitoring,” Seaqloud Managing Director Frode Næss said. “By integrating Sematek’s sensor products in Seaqloud’s portfolio, we will be able to further improve fish farmers’ operational reliability through gaining a better understanding of their maintenance needs.”
According to Seaqloud, Sematek’s sensors are capable of continuously monitoring and storing data that allow for leak detection on floating structures at aquaculture sites, such as feed barges and closed cages. The sensors can also detect and measure stressors on mooring components. Combined, the data gives companies the ability to extend the operational lifespan of structures and also reduce the risk of structural failure – which could lead to salmon escapes.
Sematek also offers wave breakers – structures designed to reduce the force of waves in marine environments.
“Integrating our sensor products into a dedicated software and sensor technology company like Seaqloud is a solid technological and industrial match that will enable us to offer even more comprehensive operational solutions for the aquaculture industry," Sematek Managing Director Tore Birkeland said.
Sematek is also planning to move into a new, larger location in Bergen, Norway, that it said will serve as a maintenance hub for the equipment and components it provides to customers. Næss said Seaqloud’s current geographical locations in Trondheim, Alta, Namsos, and Tromsø are complemented by Sematek’s current location in Vestlandet.
“The acquisition is geographically complementary, which is beneficial for both Sematek and Seaqloud,” Næss said.
Bluefront Equity Investment Manager Johan Kostveit said the company believes Sematek has a great deal of potential and that combining with Seaqloud will allow it to realize some of those increases.
Bluefront equity has acquired several aquaculture-related companies in recent years, including Cyrogenetics and the aquaculture arm of Piscada. The company has made its more recent acquisitions using its “Bluefront Capital II” fund, which got a boost from the Lukas Walton-backed impact platform Builders Vision in early 2025.
