GTT acquires maritime digitalization specialist in €194 million deal

French technological containment specialist Gaztransport & Technigaz (GTT) has entered into an agreement to acquire maritime data collection and analytics firm Danelec in a transaction worth €194 million.

Through agreement with the European investment fund Verdane, GTT will acquire 100% of Danelec, strengthening its vessel performance management portfolio.

According to Danelec, its digital solutions for maritime data collection and analysis are designed to enhance operational performance, safety, and decarbonization.

GTT said this acquisition “constitutes a key milestone in the development of GTT’s Digital division, bringing the group’s installed base to approximately 17,000 vessels and unlocking significant synergy potential thanks to the complementary offerings of Danelec, Ascenz Marorka and VPS”.

Philippe Berterottière, Chairman and Chief Executive Officer of GTT, commented: “We are delighted to welcome Danelec to the GTT Group. This acquisition fully aligns with our development strategy in the digital field and marks an important milestone for the Group.

“Danelec is a recognised player in the maritime digitalisation, with a strong reputation, a significant installed base, and high-quality management team. With this transaction, GTT becomes the global leader in the high-growth segment of vessel performance management and positions itself as a leading player in the strategic VDR market. In a rapidly expanding digital maritime market, this acquisition further strengthens our leadership position, while creating value for our shareholders.”

Founded in 1995 and headquartered in Farum, Denmark, Danelec currenty has its systems installed on over 15,500 vessels worldwide.