Finnish Wärtsilä acquired the UK based Transas. The transaction is valued at 210m Euros (USD 257.8 million) and is expected to be closed during the second quarter of 2018.
This transaction is part of Wärtsilä’s attempt to expand its Smart Marine Ecosystem vision. Smart Marine Ecosystem is a vision whereby smart vessels connect with smart ports to improve the use of resources and operational efficiency, reduce environmental impact and risk, and enhance safety and security.
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.
Transas has 22 regional offices worldwide and a distribution network that spans 120 countries. Its workforce of approximately 1000 employees includes a large team of engineers who, together with Wärtsilä’s team, will aim to accelerate the development of smart digital products.
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Frank Coles, CEO of Transas, stated:
It is incredibly exciting to have this opportunity to join the Wärtsilä brand in delivering the future of maritime transport. 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.
