Merger
Following permission being granted by the UK's Monopolies and Mergers Commission, Seaspeed merged with rival Hoverlloyd in 1981 to create Hoverspeed. The cross-Channel service hovercraft closed in 2000 following the opening of the Channel Tunnel (in 1994) and due to the age of the SR-N4 hovercraft.
Read more about this topic: Seaspeed