Regent Logo

Mergers and Acquistions News

Categories: Hardware

January 31st 2011, 17:40PM

US-based Navis supplies one of the world's leading vessel management systems.

Cargotec, a Finnish cargo-handling equipment maker, says it will acquire Navis, a maker of software for transport terminals, for $190 million (£119 million).

The firm is picking up Navis from US-based Zebra Technologies Corporation.

Cargotec said the acquisition will help it broaden its product range.

Navis' TOS software is the leading system globally in marine terminals, rail yard operations and distribution centres. Its solutions are used in over 50 countries.

Headquartered in California, it has more than 300 employees and is expected to post sales of about $70 million in 2011.

"This acquisition supports Cargotec's strategy to focus on customers and invest in attractive customer segments," said Mikael Makinen, Cargotec's president and chief executive officer.

"Navis solutions are a core component of a terminal operator's business. By adding Navis to our portfolio, we will be able to offer total solutions for terminals. We see excellent opportunities for growth and innovation."

The deal is expected to close during the first quarter of 2011.

In December last year, Cargotec became a majority shareholder in Kalmar, a Malaysian port equipment systems maker.
 ADNFCR-1833-ID-800375811-ADNFCR

 

Related News