Cargotec Corporation has agreed to acquire INTERSCHALT maritime systems AG, a software and related service provider to the maritime industry. The acquisition is expected to complement Cargotec’s strategic aim of being a leader in intelligent cargo handling. Cargotec has agreed to acquire all the shares in the German company.
According to the announcement, INTERSCHALT’s sales in 2014 amounted to €42m and the company currently 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 is to be consolidated into Cargotec’s figures. The parties have agreed not to disclose the transaction value.
Mika Vehviläinen, CEO of Cargotec, said of the acquisition, “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,” adding, “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.”
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.