Navtor, a Norway-based provider of e-navigation solutions, has acquired Tres Solutions, a maritime software and analytics company.
Founded in Texas, US, in 2016, Tres Solutions has quickly expanded across the world with offices in Asia and Europe.
The acquisition follows closely after the launch of NavFleet by Navtor on 1 February.
NavFleet is a fleet management application that provides real-time operational insight and performance optimisation and improves business decision-making.
NavFleet optimises performance and can benchmark, troubleshoot, refine, and share superlative practices across fleets while resolving individual vessel issues.
The application enables easier compliance, simplified reporting and administration, and can automate important reports.
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Its real-time monitoring competencies enable office-based teams to check vessel key performance indicators (KPIs) and passage plan progress.
It makes it easier for owners to follow the charter party agreements and avoid performance claims.
Navtor said that the acquisition will now lead to the formation of an integrated platform to assist shipowners and operators, improving operations and achieving competitive advantage.
In August last year, Accel-KKR, a technology-focused private equity firm, acquired a majority stake in Navtor, which provided financial backing to the company.
Navtor CEO Tor Svanes said: “Vessel performance optimisation is an obvious next step for Navtor, utilising our cyber-secure, seamlessly connected and cloud-based e-Navigation ecosystem as a platform to enable real-time data sharing, analytics, and enhanced decision-making. The launch of NavFleet gives our customers a unique shoreside tool for better fleet management, and the addition of Tres Solutions’ expertise and software delivers the power to generate optimal value, taking performance data and extracting the intelligence needed to enable smarter, more profitable, and efficient operations.”
Tres Solutions president and CEO Aaron Holton said: “Shipping companies are increasingly looking for a total ship operations platform, helping them simplify workflows, improve the speed and reliability of their operations, and facilitate better decision-making. In joining the Navtor family, our combined businesses will offer a unique full-suite platform, giving users one powerful source of truth for their fleet operations and analytics. We see this as a very exciting step forward.”
In addition, Tres Solutions’ Tres Vessel Analytics, is helping shipping corporations to improve environmental efficiency, and reduce operating costs and fuel consumption.