MarineXchange (MXP) has signed a definitive agreement to join Deep Wave Maritime Technologies Group, an international group of specialist maritime software companies backed by San Francisco-based True Wind Capital.
MXP will continue to operate under its own brand, while being part of the group will allow it to broaden the services available to its customers, including hosting and monitoring, data analytics, AI initiatives and project management services, according to a statement.
Founder Hannes Lindthaler will serve as MXP’s co-managing director and become a shareholder in Deep Wave following the completion of the transaction.
“Over the past 20 years, we have built MXP into a trusted technology partner for the global cruise industry. We are taking this step from a position of strength,” said Lindthaler.
“With Deep Wave, we have found a partner that shares our long-term perspective, our entrepreneurial mindset and, above all, our commitment to our customers. I will continue my active leadership role at MXP and become a shareholder in Deep Wave. I am fully committed to the company, our customers and this next chapter.”
MXP’s C-suite also remains the same, comprising Chief Executive Officer Michael Eder, who took on the role in July, Chief Financial Officer Mathias Klein and Chief Technology Officer Philipp Grasmug.
Eder said that the fundamentals remain the same for customers, with the same people and products, and the same focus on cruise, noting that the objective is to make an already strong MXP even stronger.
“MXP is one of the maritime software industry’s highest-quality businesses, with an outstanding reputation and deep expertise in the cruise sector,” added Mark Rogerson, chair of Deep Wave.
“Its strong customer relationships, mission-critical technology and experienced team make MXP a natural fit for Deep Wave. We look forward to supporting the company’s continued innovation and international growth while preserving the qualities that have made MXP so successful.”
MXP noted that the transaction remains subject to customary regulatory clearances.
