Wartsila acquires Eniram in deal valued at EUR 43 million

JUNE 30, 2016 —  Wärtsilä today signed an agreement to acquire Eniram, a Finnish-based technology company providing the marine industry with energy management and analytics solutions.

The deal is valued at EUR 43 million (enterprise value). Ownership of the company will be transferred to Wärtsilä with effect from July 1, 2016.

Wärtsilä says the acquisition will enable it to grow and strengthen its digital offering and in-house capabilities, specifically in data analytics, modeling and performance optimization.

Eniram's solutions range from single onboard applications for trim, speed and engine optimization to comprehensive fleet analysis.

The company's solutions are installed in over 270 vessels; saving fuel, increasing profitability and reducing harmful emissions.

Eniram is headquartered in Helsinki, Finland and has subsidiaries in the U.K., the U.S., Germany and Singapore.

In 2015, its  turnover exceeded EUR 10 million with 89 employees worldwide.

Eniram will initially continue an independent business entity supported by Wärtsilä's global capabilities.

Henrik Dahl, CEO and cofounder of Eniram, commented: "With the accelerating trend of digitalization and connectivity, there is an enormous amount of innovation happening across the maritime industry. Wärtsilä's leading market position coupled with Eniram's cutting-edge technology forms an unbeatable combination in the marine digitalization space. With Wärtsilä's capabilities and resources, we can offer even more customer value. Eniram's team is looking forward to accelerating the expansion to new markets and the development of new solutions with Wärtsilä."

"Eniram has world-class analytics capabilities, and by joining forces we can provide our customers an unbeatable offering on both the vessel and fleet level. Eniram's offering and solutions truly complement the recently launched Wärtsilä Genius services portfolio. Together we will enable our customers to optimise their assets and improve predictability, as well as support them with real-time analytics. Further product launches from Wärtsilä and Eniram are to be expected in the near future," says Pierpaolo Barbone, President, Wärtsilä Services.

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