Cargotec acquires systems company
Cargotec, owner of Hiab and Kalmar, has acquired Navis, a US based terminal operator systems provider from Zebra Technologies $190 million in cash.
Navis' software is a leading system for marine terminals, rail yard operations and distribution centres, helping users coordinate and automate the movement of containers and equipment in terminal and yard environments from a central location.
Navis solutions are used in marine terminals in more 50 countries, the company was founded in 1988 and is based in Oakland, California. It employs more than 300 of which the majority are located in the United States and India. Its sales are expected to be around $70 million in 2011. Navis will continue as an independent business within Cargotec. The acquisition is subject to regulatory approvals which are expected to be received during the first quarter of 2011.
Cargotec chief executive Mikael Mäkinen said: "This acquisition supports Cargotec's strategy to focus on customers and invest in attractive customer segments. Navis solutions are a core component of a terminal operator's business. By adding it to our portfolio, we will be able to offer total solutions for terminals. We see excellent opportunities for growth and innovation."