Wärtsilä Acquires Transas To Accelerate Its Smart Marine Ecosystem Vision
The technology group Wärtsilä is to acquire Transas, a global company headquartered in the UK. The move will speed Wärtsilä along its path towards its Smart Marine Ecosystem vision. 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 leverages the latest in machine learning and AI to create a unified cloud-based platform for managing operations across the entire marine ecosystem.
Transas’ current annual net sales are in the region of EUR 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 be integrated 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 an ecosystem that is digitally connected across the entire supply chain, through applications that are secure, smart and cloud-based.
The transaction is valued at MEUR 210 (enterprise value) and is expected to be closed during the second quarter of 2018. Wärtsilä’s Smart Marine Ecosystem is a vision whereby smart vessels connect with smart ports and beyond to deliver three fundamental industry benefits: 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.