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Cargotec acquires maritime software company INTERSCHALT

Mika Vehviläinen, CEO of Cargotec Mika Vehviläinen, CEO of Cargotec

Cargotec Corporation has agreed to acquire INTERSCHALT maritime systems, a deal which Cargotec says will complement its strategic goals in the intelligent cargo handling market by providing it with additional competence in software development and adding branch offices, service stations and new partners.

{mprestriction ids="1,2"}The deal will see Cargotec acquire all the shares in the German software and service company, whose sales in 2014 amounted to €42 million, generated by a staff of approximately 200 people.

The closing of the transaction is expected to take place in the first quarter of 2016 and is subject to the approval of competition authorities, after which INTERSCHALT will be consolidated into Cargotec’s figures. The parties have decided not to disclose the transaction value.

“During the last couple of years, we have been focusing on improving our profitability and now we are ready to take the next strategic step in implementing our strategy,” said Mika Vehviläinen, CEO of Cargotec.

“Our target is to get 40 per cent of sales from services and software in five years’ time. This acquisition is an excellent strategic fit to our Navis and XVELA offerings within the Kalmar organisation, and it will also bring new service business for MacGregor.”

Interschalt’s software and services for the maritime industry are structured into two segments: software for cargo and fleet management as well as maintenance, repair and retrofit services for bridge navigation and communication equipment, as well as for voyage data recorders.

Cargotec says it is planning to integrate its software solutions into the Kalmar business and its services into the MacGregor business unit.{/mprestriction}

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