Wärtsilä Expands with Transas Acquisition
- Business & Finance
Finland-based technology group Wärtsilä is to acquire UK’s Transas in an effort to speed up its journey along the path towards its Smart Marine Ecosystem vision.
The transaction, which is valued at EUR 210 million (USD 257.8 million), is expected to be closed during the second quarter of 2018. The acquisition takes Wärtsilä a 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.
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.
“We can now connect Wärtsilä’s product portfolio, the biggest in the Marine industry, with Ship Traffic Control, Simulators, Navigation solutions and fleet operation solutions from Transas. The combined package will further improve the way a vessel can sail in the most cost efficient and environmental friendly way for our customers,” Roger Holm, President, Wärtsilä Marine Solutions, said.