Switzerland-based technology company ABB has entered into an agreement to acquire the shipping business of DTN Europe BV and DTN Philippines Inc. (DTN Shipping), expanding the company’s offering in maritime software.
This will establish ABB as one of the market leaders in ship route optimization.
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DTN is a global, data, analytics and technology company headquartered in Minneapolis, MN and Utrecht, Netherlands.
Specifically, the acquisition of the DTN Shipping portfolio covers vessel routing software, including analytics, reporting, and modeling applications.
The transaction, subject to several conditions, is expected to close during Q2 2024. Financial details of the transaction were not disclosed.
As explained, the acquisition comes at a time when real-time weather routing analytics play an increasingly important role in helping vessels optimize voyage efficiency and safety . Complementing ABB’s existing digital offering, the DTN Shipping business brings application programming interfaces (API) to ABB and expands the number of vessels connected to ABB networks to over 5,000.
ABB and DTN Shipping said they will work together to ensure continuous customer service and the integration of approximately 85 employees, most of whom are located in the Netherlands and Philippines, into ABB.
Current customers of DTN Shipping will benefit from ABB’s expertise in electric, automated and digital marine solutions, securing more opportunities to gain efficiencies, save fuel and cut emissions.
“We look forward to welcoming our new colleagues to the ABB family. With DTN Shipping’s unique weather routing solutions, combined with our existing digital portfolio, we can bring significant benefits for ship owners and operators worldwide,” Juha Koskela , Division President, ABB Marine & Ports, commented.
“This is integral to our commitment to deploy digital solutions for the purpose of driving better operational decisions, resulting in increasingly sustainable performance of vessels. With this acquisition, we can now offer all levels of digitalization, across all fleet types and sizes, creating a unique offering in vessel and voyage performance.”
“Innovation is by nature collaborative,” Marc Chesover , President and CEO of DTN, said.
“This is an important moment in the advancement of digital solutions for the maritime industry. We are proud of what the Shipping team has accomplished at DTN and are confident that the industry will see great value from the expanded ABB offerings that are possible when combined with the DTN Shipping portfolio. DTN looks forward to continuing to provide core forecasting elements to ABB post completion.”
ABB Ability digital solutions for the marine industry are well-established in passenger, ice-going, container and energy vessel segments. With this acquisition, ABB further strengthens the company’s focus on investing in digital solutions that support decarbonization and enable better resource efficiency, in line with the company’s purpose to drive a more sustainable future through technology leadership.
about 2 years ago
Switzerland-based technology company ABB has entered into an agreement to acquire the shipping business of DTN Europe BV and DTN Philippines Inc. (DTN Shipping), expanding the company’s offering in maritime software.
