Tor Svanes, CEO of NAVTOR
NAVTOR looks to extend its success in e-Navigation into leadership in vessel analytics and performance optimisation with the acquisition of Tres Solutions. The purchase follows on the heels of NAVTOR’s launch of NavFleet, a breakthrough fleet management application delivering real-time operational insight, performance optimisation and enhanced business decision making.
Tres Solutions’ core expertise and digital products will now integrate into NAVTOR’s offering, creating a unified platform to help shipowners and operators enhance operations and achieve competitive advantage.
Platform for success
NAVTOR is renowned as a global leader in e-Navigation, currently delivering a suite of innovative products to approximately 7000 individual vessels and customers in over 60 countries. In August 2020, Accel-KKR, a Silicon Valley headquartered operation with over $10 billion in capital commitments, took a majority stake in NAVTOR, giving the team the financial backing to take business development to the next level.
This acquisition, notes NAVTOR CEO Tor Svanes, demonstrates that drive. “Vessel performance optimisation is an obvious next step for NAVTOR,” he comments, “utilising our cyber secure, seamlessly connected and cloud-based e-Navigation ecosystem as a platform to enable real-time data sharing, analytics and enhanced decision making. The launch of NavFleet gives our customers a unique shoreside tool for better fleet management, and the addition of Tres Solutions’ expertise and software delivers the power to generate optimal value – taking performance data and extracting the intelligence needed to enable smarter, more profitable, and efficient operations.”
Single source of truth
Svanes continues: “We always like to stay one step ahead, developing innovative solutions that help solve this industry’s challenges and meet customer needs. Performance optimisation is key to a more sustainable business future, so it’s a natural progression. We’ve been impressed by the Tres team and their development for some time, and now look forward to bringing an expanded suite of navigation and vessel analytics solutions to the market.”
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DLA Piper LLP and Brodies LLP provided legal advisory for NAVTOR on the transaction; McGuireWoods LLP served as legal advisors for Tres Solutions.
About Tres Solutions:
Tres Solutions is a leading maritime software and analytics company, providing a comprehensive suite of digital vessel performance solutions, focused on helping clients save money, reduce emissions and improve operations.
The company serves its global customer base from major shipping hubs around the world, including Houston (HQ), Copenhagen, Hamburg and Mumbai. Its core Tres Vessel Analytics (TVA) platform is among the fastest growing performance management and optimisation systems in the market and is deployed on more than 300 vessels worldwide.
For more information, go to www.tressolutions.com or email email@example.com.
NAVTOR has established itself is a world leader in e-navigation since launching in 2011, providing
innovative e-Navigation solutions, and as a total supplier of navigational products and services for the maritime sector. The company strives to make life easier for navigators, and safer and more efficient for shipowners, ship managers and operators.
In 2012 the firm released the world’s first type approved Pay As You Sail ENC service, and followed in 2014 with the launch of NavStation, the world’s first digital chart table. The company has grown quickly and established a network of subsidiaries and distributors worldwide, spanning Norway, Singapore, Japan, Sweden, Germany, Russia, the United States, and the United Kingdom.