Another software acquisition for Cargotec
Cargotec, owner of Hiab and Kalmar, is to acquire Germany’s Interschalt maritime systems a specialist software and service provider to the maritime industry.
The acquisition is part of the company’s strategy ff being a leader in intelligent cargo handling, with its Hiab, MacGregor and Kalmar operations.
Interschalt had revenues last year of €42 million and employs around 200.
The closing of the share purchase transaction is expected to complete during the first quarter. No details of the transaction have been disclosed.
Cargotec chief executive Mika Vehviläinen said: "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. 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 organisation, and it will also bring new service business for MacGregor."
"The acquisition will add customers, talent, additional knowledge, capabilities and software products to support the future growth of Xvela as the leading collaboration platform serving the needs of ocean carriers, terminals and their shipping partner," added Kalmar president Olli Isotalo. "We are very excited about the great growth opportunities we have ahead of us."
Interschalt chief executive Robert Gärtner said: "Very soon after starting discussions about this acquisition, it became clear that we all shared the same strategic vision about the future of the maritime industry Interschalt and Cargotec's software solutions together will help greatly our customers in their value creation in increasingly complex world of maritime logistics."