Wärtsilä announced that its acquisition of Transas has now been finalized. 

Control of the company will be transferred to Wärtsilä effective from May 4.

The acquisition, which was announced in March 2018, has a transaction value of MEUR 210 (enterprise value).

Transas is a global market leader in marine navigation solutions that include complete bridge systems, digital products and electronic charts. It is also a main player in professional training and simulation services, as well as ship traffic control systems.

“In acquiring Transas, Wärtsilä takes a big step forward in achieving its mission of enabling sustainable societies with smart technology. It will also speed delivery on the company’s promise to disrupt the industry by establishing a Smart Marine ecosystem. Wärtsilä envisions a secure, smart, and cloud-based future through the development of applications that leverage machine learning and artificial intelligence,” the company said.

Transas currently has net annual sales in the region of EUR 140 million and employs approximately 1,000 people working from 22 regional offices worldwide. 

“Combining Transas with Wärtsilä will bring the Smart Marine Ecosystem many steps forward. It is a very positive move for both parties, and we welcome the Transas team into our organisation,” said Roger Holm, President, Wärtsilä Marine Solutions.