Wärtsilä’s acquisition of Transas complete
Wärtsilä’s acquisition of Transas, a global company headquartered in the U.K., has been finalized. Control of the company was transferred to Wärtsilä May 4. The acquisition, which was announced in March, has a transaction value of MEUR 210 (enterprise value).
Transas is a global market leader in marine navigation solutions that include complete bridge systems, digital products and electronic charts. It is also a leader in professional training and simulation services, as well as ship traffic control systems. In acquiring Transas, Wärtsilä takes a big step forward in achieving its mission of enabling sustainable societies with smart technology. It will also speed delivery on the company’s promise to disrupt the industry by establishing a Smart Marine ecosystem. Wärtsilä envisions a secure, smart and cloud-based future through the development of applications that leverage machine learning and artificial intelligence.
Transas currently has net annual sales in the region of EUR 140 million and employs approximately 1,000 people working from 22 regional offices worldwide. They will become integrated within Wärtsilä’s Marine Solutions business. It is expected the company’s large base of software engineers will play a key role in assisting Wärtsilä in the development of smart products and a digital platform.
“Combining Transas with Wärtsilä will bring the Smart Marine Ecosystem many steps forward. It is a very positive move for both parties, and we welcome the Transas team into our organization,” said Roger Holm, President, Wärtsilä Marine Solutions.