Technology group Wärtsilä is buying navigation solutions specialist Transas for EUR210m ($258m). The move will speed Wärtsilä along its path towards its so-called Smart Marine Ecosystem vision, the Finnish company said in a release today.
Transas’ current annual net sales are in the region of EUR140m with 1,000 employees spread across 22 offices. Transas’ large base of software engineers will play a key role in assisting Wärtsilä with the development of smart products and a digital platform, the Scandinavian company maintained.
“This acquisition takes Wärtsilä a significant step closer to achieving its mission of enabling sustainable societies with smart technologies. It will also speed delivery on the company’s promise to disrupt the industry by establishing an ecosystem that is digitally connected across the entire supply chain, through applications that are secure, smart and cloud-based,” Wärtsilä stated.
The transaction is expected to be closed during the second quarter this year.
“We can now connect Wärtsilä’s product portfolio, the biggest in the marine industry, with ship traffic control, simulators, navigation solutions and fleet operation solutions from Transas,” said Roger Holm, president, Wärtsilä Marine Solutions.
“It is incredibly exciting to have this opportunity to join the Wärtsilä brand in delivering the future of maritime transport. We share a common vision; one of a safer, more efficient, and more environmentally friendly maritime industry,” commented Frank Coles, CEO of Transas.