The technology group Wärtsilä announces that its acquisition of Transas, a global company headquartered in the U.K., has now been finalised, the company said in its press release. Control of the company will be transferred to Wärtsilä effective from 4 May, 2018. The acquisition, which was announced in March 2018, has a transaction value of MEUR 210 (enterprise value).
Transas is a global market leader in marine navigation solutions that include complete bridge systems, digital products and electronic charts. It is also a leader in professional training and simulation services, as well as ship traffic control systems. In acquiring Transas, Wärtsilä takes a big step forward in achieving its mission of enabling sustainable societies with smart technology. It will also speed delivery on the company's promise to disrupt the industry by establishing a Smart Marine ecosystem.
Wärtsilä envisions a secure, smart, and cloud-based future through the development of applications that leverage machine learning and artificial intelligence. Transas currently has net annual sales in the region of EUR 140 million and employs approximately 1000 people working from 22 regional offices worldwide. They will become integrated within Wärtsilä's Marine Solutions business. It is expected that the company's large base of software engineers will play a key role in assisting Wärtsilä in the development of smart products and a digital platform.
"Combining Transas with Wärtsilä will bring the Smart Marine Ecosystem many steps forward. It is a very positive move for both parties, and we welcome the Transas team into our organisation," says Roger Holm, President, Wärtsilä Marine Solutions.
Wärtsilä in brief:
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2017, Wärtsilä's net sales totalled EUR 4.9 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.