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Cargotec to acquire maritime software company

Cargotec Corporation has agreed to acquire all the shares in Interschalt maritime systems AG, which provides software solutions for cargo and fleet management.

Cargotec is planning to integrate software solutions into the Kalmar business area and services into the MacGregor business area.

The German company, which had €42m (US$46m) worth of sales in 2014, also provides maintenance, repair and retrofit services for bridge navigation and communication equipment as well as for data voyage recorder systems.

Mika Vehviläinen, CEO of Cargotec, said: “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 that the acquisition would support the future growth of Cargotec’s XVELA platform, “serving the needs of ocean carriers, terminals and their shipping partner”.

The closing of the transaction is expected to take place in the first quarter of 2016 and is subject to the approval of competition authorities; the parties involved have agreed not to disclose the transaction value.