Naxys was established in 1999 by industry specialists in acoustic subsea warfare systems. Over the past 13 years the company has been researching and developing acoustic sensor products and systems in close cooperation with leading companies within the oil and gas industry. Naxys is today a world leading subsea monitoring company with unique products for subsea leak detection and condition monitoring. The company has proven products with an installed base monitoring 132 well heads for large oil companies such as Statoil, BP, Total and ENI. Naxys is based in Bergen, Norway and has 31 employees.

The investment was sold in 2012 to GE.