Wartsila buys navigation firm Transas to push autonomous shipping
Date: Tuesday, March 20, 2018
Finnish ship technology company Wartsila <WRT1V.HE said on Monday it would buy a British marine navigation company Transas for an enterprise value of 210 million euros ($258 million).
Wartsila said the company would help it move forward with its digital marine vision which includes remotely controlled vessels.
Transas, which has annual sales of around 140 million euros, has developed a cloud-based platform to manage operations at vessels and ports, Wartsila said in a statement.
Wartsila and other companies including ABB (ABBN.S), Cargotec (CGCBV.HE) and Rolls Royce (RR.L) have teamed up with an aim to bring remote controlled vessels to the Baltic Sea by 2020 and to have a fully autonomous commercial traffic system there by 2025.
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