Finnish technology group Wärtsilä said that its €210 million ($250.4 million) acquisition of Transas, a global marine navigation company headquartered in the U.K., has been finalized.
Control of the company will be transferred to Wärtsilä effective from May 4, 2018, the company’s statement reads.
Transas provides marine navigation solutions that include complete bridge systems, digital products and electronic charts. It also provides professional training and simulation services, as well as ship traffic control systems.
Transas currently has net annual sales in the region of €140 million and employs approximately 1000 people working from 22 regional offices worldwide.
They will become integrated within Wärtsilä’s Marine Solutions business.
It is expected that the company’s large base of software engineers will play a key role in assisting Wärtsilä in the development of smart products and a digital platform.