Cargotec Corporation has agreed to acquire Interschalt maritime systems AG, the leading specialist software and related service provider to the maritime industry.
The acquisition will complement Cargotec's strategic aim of being a leader in intelligent cargo handling, and the company will gain more competence in technologically advanced software and service solutions.
A statement read that with the move Cargotec “…attains a global footprint with branch offices, service stations and partner representations.”
The closing of the transaction is expected to take place in the Q1, 2016 and is subject to the approval of competition authorities after which Interschalt will be consolidated into Cargotec's figures. The parties have agreed not to disclose the transaction value.
Mika Vehviläinen, CEO of Cargotec, said: “During the last couple of years, we have been focusing on improving our profitability and now we are ready to take the next strategic step in implementing our strategy.
“Our target is to get 40% of sales from services and software in five years' time. This acquisition is an excellent strategic fit to our Navis and XVELA offerings within the Kalmar organisation, and it will also bring new service business for MacGregor.”
Olli Isotalo, President of Kalmar, said: “The acquisition of Interschalt is part of our strategy of growing our software business in new areas and creating more value for existing and new customers.
“The acquisition will add customers, talent, additional knowledge, capabilities and software products to support the future growth of XVELA as the leading collaboration platform serving the needs of ocean carriers, terminals and their shipping partner.”
Navis Senior Vice President Andy Barrons stated on LinkedIn: “Happy to announce today the acquisition of maritime software company, Interschalt.
“Together with XVELA and Navis we can combine the terminal centric and vessel centric industry knowledge and software talent to develop and deliver new solutions that will benefit terminals, carriers and shipping partners.”
Fact File: Interschalt provides software solutions and services for the maritime industry, and its activities are structured into two segments: software solutions for cargo and fleet management as well as maintenance, repair and retrofit services for bridge navigation and communication equipment as well as for data voyage recorder systems. Cargotec is planning to integrate software solutions into the Kalmar business area and services into the MacGregor business area.