{mprestriction ids="1,2"}The acquisition was completed today (April 1) following European Commission approval. Net proceeds after transaction costs and other adjustments are estimated to be around £350m to £400m. In 2018, Commercial Marine reported underlying revenue of £726m and an underlying loss of £35m.

The acquisition will enable Kongsberg Maritime to expand its global presence and customer proximity to deliver more sustainable, safe and secure marine operations for all vessel types through technology including automation, navigation and control systems. RRCM’s expertise will strengthen Kongsberg’s leadership in maritime digitalisation, ship intelligence and enabling technologies for autonomous vessels.

Geir Håøy, CEO, Kongsberg, commented: I have looked forward to this day for a long time. Together we are now well positioned in the market and our ambition is to lead the development of the future maritime industry globally in close cooperation with customers and partners. We shall be the ocean space expert. We have spent a long-time planning and preparing, now the work of ensuring a successful integration begins.”

Bård Bjørløw, EVP global sales and marketing, Kongsberg Maritime, said: “Our goal is to further develop our track record of innovation and dedication in helping our customers meet the evolving challenges of the maritime industry, be it through cutting-edge autonomy and digital solutions or highly reliable power and propulsion systems. As we continue to create new future-proof answers to today’s challenges, we’re confident that the integration possibilities of the next generation of The Full Picture will unlock new efficiencies and contribute to sustainability.”

“I am looking forward to welcoming 3,600 highly skilled new colleagues. Together we will work for a fast and smooth integration of people, cultures, products, solutions and innovative work. Through world-class technology, customer focus, the power to innovate and the willingness to change, we will deliver the results we have promised,” added Egil Haugsdal, executive vice president, Kongsberg Maritime.

Digital Ship visited Rolls Royce Marine in Norway ahead of the acquisition. Rolls Royce explained to journalists that the company expected the acquisition to improve internal efficiency, particularly in terms of systems. “Rolls Royce is a huge company with lots of internal systems and routines that are very well dimensioned for the air industry. We have been trying hard to adapt to marine world and have not always been able to. They are very different markets.” Rolls Royce says that having an owner very much focussed on the maritime market will be a huge benefit to the company, particularly in terms of branding.

Rolls-Royce’s Bergen Engines will be produced under Rolls-Royce’s Power Systems business and remain with the Rolls-Royce brand name. Kongsberg will however, through a trading arrangement, have access to Bergen Engines product.

The acquisition will result in Kongsberg being represented in 40 countries, with more than 11,000 employees and an annual turnover of more than NOK 22 billion. Kongsberg will assist more than 30,000 vessels worldwide.{/mprestriction}