Wed, 20th Jan 2016 07:05
CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 20 JANUARY 2016 AT 9:00 AM (EET)
Cargotec acquires maritime software company
Cargotec Corporation has agreed to acquire INTERSCHALT maritime systems AG, the leading specialist software and related service provider to the maritime industry. The acquisition will complement Cargotec's strategic aim of being a leader in intelligent cargo handling. Cargotec will gain more competence in technologically advanced software and service solutions and attains a global footprint with branch offices, service stations and partner representations.
Cargotec has agreed to acquire all the shares in the German software and service company INTERSCHALT. INTERSCHALT's sales in 2014 amounted to EUR 42 million and it employs over 200 people. The closing of the transaction is expected to take place in the first quarter of 2016 and is subject to the approval of competition authorities after which INTERSCHALT will be consolidated into Cargotec's figures. The parties have agreed not to disclose the transaction value.
"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," says Mika Vehviläinen, CEO of Cargotec. "Our target is to get 40% 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 of INTERSCHALT is part of our strategy of growing our software business in new areas and creating more value for existing and new customers. 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," says Olli Isotalo, President of Kalmar. "We are very excited about the great growth opportunities we have ahead of us."
"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's and Cargotec's software solutions together will help greatly our customers in their value creation in increasingly complex world of maritime logistics," says Robert Gärtner, CEO of INTERSCHALT.
Interschalt provides software solutions and services for the maritime industry, and its activities are structured into two segments: software solutions for cargo and fleet management as well as maintenance, repair and retrofit services for bridge navigation and communication equipment as well as for data voyage recorder systems. Cargotec is planning to integrate software solutions into the Kalmar business area and services into the MacGregor business area.
Further information for the press:
Olli Isotalo, President, Kalmar, tel. +358 204 777 4111
Michel van Roozendaal, President, MacGregor, tel. +32 478 806 092
Maija Eklöf, Vice President, Marketing and Communications, Kalmar, tel. +358 20 777 4096, email@example.com
Virpi Raski, Corporate Communications Director, Cargotec, tel. +358 40 581 6616, firstname.lastname@example.org
Further information for investors:
Paula Liimatta, IR Director, Cargotec Corporation, tel. +358 20 777 4084
Cargotec shapes the cargo handling industry for the benefit of its customers and shareholders. Cargotec's business areas MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Their global network is positioned close to customers and offers extensive services that ensure a continuous, reliable and sustainable performance according to customers' needs. Cargotec's sales totalled approximately EUR 3.4 billion in 2014 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on Nasdaq Helsinki Ltd under symbol CGCBV. www.cargotec.com
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Cargotec Corporation via Globenewswire