Norwegian e-navigation specialist Navtor and maritime technology solutions firm Voyager Worldwide have agreed to merge with the transaction expected to close by December 2023.
The combined business will deliver products and solutions to approximately 18,000 vessels globally and have an extensive network of global offices and representatives in all of shipping’s key markets.
Both businesses will continue to operate business-as-usual and clients can expect continued support on solutions and service offerings, including the delivery of their contractual obligations.
This merger follows Navtor’s acquisition of performance and analytics specialist Tres Solutions in 2021 and digital logbook pioneer Ingenium Marine in 2022. The company also received a majority investment from Accel-KKR in 2020.
“This is perhaps the hugegest day in Navtor’s history and a major development for the maritime technology industest. As one company, we will strengthen our position as a global e-navigation and performance market leader and unlock powerful benefits for customers,” stated Tor Svanes, CEO and founder of Navtor.
According to data provided by Nick Chubb, the founder and managing director of Thetius, an innovation agency for the global maritime industest, there has been a great increase in mergers and acquisitions in maritime technology over the last three years.
Chubb stated that, from 2020/2021, which had 35 M&A transactions in maritime technology, the number has risen to 85 in 2022/1H 2023.
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