Wärtsilä has announced that it has signed an agreement to acquire Eniram, at an enterprise value of €43 million.
Wärtsilä said that the acquisition will enable the company to grow and strengthen its digital offering and in-house capabilities, specifically in data analytics, modelling and performance optimisation.
Eniram provides the maritime industry with energy management technology to reduce fuel consumption and emissions. Its solutions range from single onboard applications for trim, speed and engine optimisation to comprehensive fleet analysis.
Ownership of Eniram will be transferred to Wärtsilä with effect from 1 July 2016. The company will initially continue as an independent business entity supported by Wärtsilä's global capabilities.
Henrik Dahl, CEO and Co-Founder of Eniram, said: "With the accelerating trend of digitalisation and connectivity, there is an enormous amount of innovation happening across the maritime industry. Wärtsilä's leading market position coupled with Eniram's cutting-edge technology forms an unbeatable combination in the marine digitalisation space. With Wärtsilä's capabilities and resources, we can offer even more customer value. Eniram's team is looking forward to accelerating the expansion to new markets and the development of new solutions with Wärtsilä."
Pierpaolo Barbone, President, Wärtsilä Services, said: "Eniram has world-class analytics capabilities, and by joining forces we can provide our customers an unbeatable offering on both the vessel and fleet level. Eniram's offering and solutions truly complement the recently launched Wärtsilä Genius services portfolio. Together we will enable our customers to optimise their assets and improve predictability, as well as support them with real-time analytics. Further product launches from Wärtsilä and Eniram are to be expected in the near future.”
Jaakko Eskola, President and CEO, Wärtsilä Corp., added: "Through this acquisition Wärtsilä takes a solid lead in marine digitalisation. Going digital plays a strong role in our strategy and supports our aim to make both Wärtsilä and our customers more competitive. For us it means growing organically and via acquisitions. We will build strategic partnerships, innovate with start-up companies and continuously recruit new people to strengthen our digital expertise. Digitalisation offers significant growth potential for our customers and for Wärtsilä.”
Edited from press release by Callum O'Reilly
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