Navtor and Voyager merge in ‘landmark combination’
Navigation firm Navtor and maritime tech provider Voyager Worldwide are merging in what is being hailed as a ‘landmark industry combination’.
The resulting business will deliver products and solutions to approximately 18,000 vessels globally and the transaction is expected to close by December 2023.
“This is perhaps the biggest day in Navtor history, and a major development for the maritime technology industry,” said Tor Svanes, chief executive 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.
The combined business will create an extensive network of global offices and representatives catering to all of shipping’s key markets, say the companies. “As one company, we will strengthen our position as a global e-Navigation and performance market leader and unlock powerful benefits for customers,” said Svanes.
Navtor currently offers NavFleet, a fleet management platform, alongside digital chart table, NavStation. Similarly Voyager provides e-Navigation, vessel management and charts software.
Kent Lee, chief executive of Voyager Worldwide said it was an incredible opportunity. “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.”
Nothing will change in the short term, say the companies, with both continuing to operate ‘business-as-usual’ including delivering contractual obligations.
Navtor received majority investment from Accel-KKR in 2020, acquiring performance and analytics specialist Tres Solutions in 2021 and Ingenium Marine, a digital logbook pioneer, in 2022.
