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Cargotec to acquire German maritime IT firm, INTERSCHALT

Time：2016-02-02 Browse：84 Author：RISINGSUN

CARGOTEC Corporation has announced plans to acquire INTERSCHALT maritime systems AG, a German maritime software provider, to help it become a leader in "intelligent" cargo handling.

Through this acquisition the company will "gain more competence in technologically advanced software and service solutions and attains a global footprint with branch offices, service stations and partner representations", Cargotec said.

INTERSCHALT`s sales in 2014 amounted to EUR42 million (US$45.56 million) and it employs 200 people. The closing of the transaction is expected to take place in the first quarter of 2016, subject to the approval of competition authorities.

Said Cargotec CEO Mika Vehvilainen: "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."