Cargo Business Techwire

Friday, January 22, 2016

Cargotec to acquire German maritime software company Interschalt

Cargotec has made a deal to buy Interschalt Maritime Systems, a software provider to the maritime industry. Cargotec said the acquisition will allow it to gain more competence in technologically advanced software and service solutions, and attain a global footprint with branch offices, service stations and partner representations.

Cargotec will acquire all shares in the German software and service company. Interschalt's sales in 2014 amounted to $45.5 million and it employs more than 200 people. The closing of the transaction is expected to take place in the first quarter of 2016 and is subject to the approval of regulation authorities. The parties have agreed not to disclose the transaction value.

"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," says Mika Vehviläinen, CEO of Cargotec. "Our target is to get 40 percent 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 organization, and it will also bring new service business for MacGregor."

Interschalt provides software solutions and services for the maritime industry, including software solutions for cargo and fleet management as well as maintenance, repair and retrofit services for bridge navigation, communication equipment and data voyage recorder systems. Cargotec is planning to integrate software solutions into the Kalmar business area and services into the MacGregor business area.