Port Finance International Events - covering global port developments

Search site

RSS
Tuesday, 20 March 2018

Wärtsilä Acquires Transas to Develop Smart Marine Vision

The technology group Wärtsilä is to acquire Transas, a global company headquartered in the UK, in a transaction valued at US$ 258.7 million (€210 million).

Transas leverages the latest in machine learning and AI to create a unified cloud-based platform for managing operations across the entire marine ecosystem.

This will allow Wärtsilä to advance its Smart Marine Ecosystem vision.

The Finnish corporation recently tightened its grip on the vessel control system market by buying Guidance Marine to further its 'intelligent' shipping development.

Wärtsilä took a crucial step towards developing its Smart Marine capabilities by successfully testing a remote-control ship:

Click Here to watch the video

Established in 1990, Transas is a global market leader in marine navigation solutions that include complete bridge systems, digital products and electronic charts.

The company is also a leader in professional training and simulation services, ship traffic control, as well as monitoring, and support.

Transas' current annual net sales are in the region of $172.4 (€140 million).

The company has 22 regional offices worldwide and a distribution network that spans 120 countries.

It has a workforce of approximately 1000 employees who will integrate within Wärtsilä's Marine Solutions business.

The large base of software engineers will play a key role in assisting Wärtsilä with the development of smart products and a digital platform.

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 a digitally connected ecosystem across the entire supply chain, through applications that are secure, smart and cloud-based.

The transaction is expected to close during the second quarter of 2018.

Wärtsilä's Smart Marine Ecosystem is a vision whereby smart vessels connect with smart ports to deliver three fundamental industry benefits.

These include maximising the use of resources and operational efficiency, minimising environmental impact and risk, and achieving the highest levels of safety and security.

Through data integration, greater connectivity and cloud-based technology, Wärtsilä aims to resolve inefficiencies in the shipping sector resulting from overcapacity, sub-optimal fuel consumption, and waiting times at ports and other high-traffic areas.

Roger Holm, President, Wärtsilä Marine Solutions, said: "Combining Transas with Wärtsilä will bring the Smart Marine Ecosystem many steps forward.

"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.

"The combined package will further improve the way a vessel can sail in the most cost efficient and environmental friendly way for our customers."

Frank Coles, CEO of Transas, said: "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.

"The Transas team has significant competences in technology, along with a globally recognized leadership position in navigation, simulation and traffic control systems.

"Adding these to the extensive, world leading Wärtsilä portfolio of services and products, provides an unparalleled opportunity for a new ecosystem for maritime operations."

March 19, 2018 by Port Technology

ABOUT US

Port Finance International provides online news and conferences worldwide. It is a platform and a community for senior industry experts and players to review and discuss the market. Our online news team provides daily coverage of international port finance, investment and operations news. A weekly e-newsletter- sent to readers free of charge - covers the key news and views of the week.

Port Finance International's conferences and training programmes are held across the globe. These events feature key industry figures and they address market challenges and trends as well as providing industry players with essential networking opportunities.

Follow us

Newsletter

Sign up for our free newsletter