Maritime technology companies ZeroNorth and Alpha Ori Technologies will merge into one company in an agreement that they hope will create a “new powerhouse” in shipping’s digital sector.
The new company formed by the merger, which is subject to regulatory approval, will continue to operate under the ZeroNorth brand under CEO Søren Meyer, while Alpha Ori Technologies’ (AOT) current CEOs, Bala Sankaran and Rajesh Unni, will join the venture as non-executive board members.
Meyer said: “I am delighted to be able to announce this agreement with Alpha Ori Technologies, which we truly believe represents the exciting next step in shipping’s digital and sustainability transformation.
“This is a strategic move that will not just benefit our customers but the sector as a whole. It will enable us to serve the industry as its leading maritime optimisation provider of choice and underlines our commitment to bettering both profit and planet.”
The merger will combine Singapore-based AOT’s knowledge of Internet of Things sensors and high-frequency data with ZeroNorth’s multi-service technology platform that creates sustainable solutions for shipping companies to cut emissions and optimise global trade.
Following the merger, the new company’s operations will continue to be led from ZeroNorth’s offices in Copenhagen, covering a combined workforce of 780 people.
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Sankaran said: “We believe that this is the perfect time for us to scale and do bigger things together and this agreement is perfectly in line with our ambition to drive sustainability, performance and business results for our customers.”
“ZeroNorth is an ideal fit for AOT’s ambitions regarding the digital transformation of the maritime industry due to our considerable expertise and specialism in high-frequency data. The agreement with ZeroNorth brings significant advantages, enabling us to leverage our combined scale for increased investment and improved customer value.”
ZeroNorth’s lead in the merger continues its growth as a leader in the digital maritime space following its acquisition of bunker supplier software company BTS, another Singapore-based company, in February.