Maritime classification society Lloyd’s Register (LR) has signed an agreement to acquire Navico Group’s C-MAP commercial marine business.
The unit is a provider of marine voyage optimisation, Cloud-based fleet management and fleet analytics software and commercial marine cartography and digital publications.
Financial details of the deal have not been disclosed.
Bolstering the current performance platform ecosystem, the acquisition will be combined with the i4 Insight platform, which offers a single point of access for multiple data streams.
LR said that the acquisition will accomplish its vision of resolving issues with integrated digital solutions and addressing the challenge of isolated and disconnected maritime systems.
This acquisition comes after the recent partnership agreements between i4 Insight and other maritime players, including Laros and Greensteam.
Since 2016, C-MAP’s commercial products and services have been part of the Navico Group, a global marine electronics manufacturer.
C-MAP’s charts and publications, weather services, route planning and fleet management, professional services, and marine hydrographic services are included in the acquisition.
Lloyd’s Register chief technology officer Nial McCollam said: “This important development is further evidence of how LR is rapidly building up our maritime digital solutions. In particular, this acquisition enables us to strengthen how we help our clients and the maritime industry more broadly, accelerate operational efficiency improvements.
“Importantly, the capabilities we have acquired are highly relevant to the industry’s goal of simultaneously reducing costs and emissions. This forms part of our wider strategy where we are combining in-house, proprietary software development with alliance partnerships, corporate venturing and acquisitions – to build more cohesive and integrated digital solutions specifically tailored to maritime market needs.”
i4 Insight CEO Joel Meltzner said: “We now have an opportunity to further enhance our i4 Insight platform with a powerful set of navigation products and optimisation tools. By adding these complementary products and services to our existing capabilities we continue extending our digital strategy focused on ensuring customers have the right information at the right time to solve key operational challenges.”
Navico Group CEO Knut Frostad said: “C-Map Commercial is a fantastic business with great potential, and this is exciting news for anyone associated with the business. Lloyd’s Register is an ambitious organisation that has a long history in shipping and outstanding relationships with its customers. They are focussed on taking C-MAP Commercial to the next level. Navico’s broader strategy is to focus its growth in the recreational and light commercial space, and this divestment aligns precisely with that.”
In November, LR signed a joint development project (JDP) with Shanghai Merchant Ship Design and Research Institute (SDARI) and Anemoi Marine Technologies (Anemoi) to develop a number of energy-efficient ship designs with rotor sails.
The JDP will facilitate the collaboration between original equipment manufacturer, designer, regulator, and shipowner for the commercial success of installed technology on ships.