NAVTOR, an e-Navigation and performance technology provider to the maritime industry, and Voyager Worldwide, a provider of maritime technology solutions, have agreed to merge.
NAVTOR CEO Tor Svanes announcing the merger with Voyage Worldwide
The combined company will deliver products and solutions to approximately 18,000 vessels globally. The transaction is expected to close by December 2023.
Both companies provide maritime technology solutions that enable shipping companies to improve safety, efficiency, compliance, and operational performance, and drive business advantages from their maritime fleet.
“In today’s dynamic maritime market, ship owners, operators and managers seek to have smarter, safer and greener shipping operations – and best-in-class fleet operations technology is a vital contributor towards those goals,” the two companies said in a statement.
“This is perhaps the biggest day in NAVTOR’s history, and a major development for the maritime technology industry,” said Tor Svanes, CEO and founder of NAVTOR. “Here are two different and highly complementary businesses, both of which have built trusted portfolios and relationships with ship owners, operators and managers worldwide. As one company, we will strengthen our position as a global e-Navigation and performance market leader and unlock powerful benefits for customers.”
According to the two firms, the combined business will boast an extensive network of global offices and representatives catering to all of shipping’s key markets.
NAVTOR’s current integrated digital ecosystem offers solutions spanning e-Navigation and performance monitoring and management, including the fleet management platform, NavFleet and digital chart table, NavStation which features advanced passage planning. Voyager offers e-Navigation, vessel management, charts, and publications portfolio.
Both businesses will continue to operate business-as-usual and clients can expect continued support on solutions and services offerings, including the delivery of their contractual obligations.
“Nothing will change in the short term and clients can expect the same level of service and support as before, from NAVTOR and Voyager Worldwide respectively. In particular, Voyager Worldwide will continue to support its clients’ digitalization journey, including those shifting from paper to more digital solutions gradually, as well as supporting clients who still require paper products,” the companies said.
“Together with Tor, I see this as an incredible opportunity,” quoted Kent Lee, CEO of Voyager Worldwide. “Both companies will unite Norway and Singapore’s maritime innovation ecosystems to drive maritime innovation to new heights. This represents an enormous opportunity to go after areas where we see tremendous growth potential. NAVTOR’s current offerings will rapidly accelerate and complement the development of our next-gen platform and solutions, advancing new joint innovations within the maritime ecosystem. NAVTOR’s customers can also leverage Voyager’s extensive global presence and deep domain expertise in the maritime industry.”
This merger follows NAVTOR’s long-term vision to help customers simplify smart, sustainable, and profitable shipping. NAVTOR received majority investment from Accel-KKR in 2020, gaining access to a financial partner to support the company in its ambitious growth plans. NAVTOR acquired performance and analytics specialist Tres Solutions in 2021 and Ingenium Marine, a digital logbook pioneer, in 2022.