JANUARY 28, 2014 — Sunnyvale, CA, headquartered ship routing specialist Applied Weather Technology, Inc. (AWT) is being acquired by Norwegian based StormGeo A/S, which is 54.9% owned by private equity investor Reiten & Co and 24% owned by DNV GL. The StormGeo portfolio of existing shipping products, Seaware, is co-branded with DNV GL.
Following the acquisition, AWT will continue to deliver its range of ship route advisory services and maritime weather and decision support software products under the AWT brand name to ship owners and operators worldwide.
AWT Chairman and founding owner Jung Soo Kang describes the deal as a "friendly acquisition that is in the interests of both companies, their employees and customers."
According to AWT CEO Haydn Jones, "The two companies have complementary strengths: StormGeo is very strong in the offshore oil and gas sector, AWT is a brand leader in routing and weather based decision support services for commercial shipping." The combined group expects to gain technical and data synergy advantages from the merger that will benefit the full range of maritime customer market sectors.
Following the acquisition, in addition to his existing role as CEO of AWT, Mr. Jones will take responsibility as global head of the shipping business line within the combined group".
"We believe that our ability to combine global real-time weather data with continuous harvesting of transport and movement data from thousands of ships across the globe will enable the company to give ship and all fleet operators a unique understanding of how they can efficiently navigate the globe, whilst at the same time securing maximum safety and sound operational economics," said Erik Langaker, Chairman of StormGeo.
"We are delighted to have found a new partner with the same focus on quality and product development as ourselves. Outstanding performance within key areas like ship routing and marine forecasting will strengthen our product offering around the globe. Our main goal is to combine the knowledge base and expertise from both companies to develop new cutting edge products that will continue to be highly appreciated by our customers. Haydn Jones, CEO at AWT, will continue at AWT headquarters and will take the role of global head of shipping. His experienced management team and employees will ensure continuity with their existing customers," said Kent Zehetner, the CEO of StormGeo.