Arribatec have secured a call option to acquire IB Marine Group, a leading provider of cloud-based Enterprise Asset Management solutions within the maritime sector as part of the international expansion strategy.
“IB has a strong position within the maritime sectors, providing a cloud-based Enterprise Asset Management solution to more than 60 customers in 11 countries with over 10 000 users. The potential acquisition will strengthen our joint offering to the maritime sectors, delivered as Solution as a Service to a high-potential pipeline of customers, and is key to our global growth strategy,” says Per Ronny Stav, Chief Executive Officer of Arribatec.
“An acquisition by Arribatec, with its leading team, products and financial capacity, will provide a strong platform for an improved offering to our customers, industry consolidation and driving digitalization through Solution as a Service to the entire shipping sector globally,” says Giampiero Soncini Chief Executive Officer of IB Marine Group.
Arribatec and IB Marine Group expects proforma revenues in the range of NOK 350 million in 2020, with annual recurring revenues of 37% and a positive adjusted EBITDA. 40% of the total revenue will be derived from business outside Norway.
IB Marine Group is an Italian based software company providing a set of integrated solutions to manage, operate, maintain and document legal compliance within the maritime sector globally. InfoShip is the product name and commences of the following cloud solutions driving the digitalization within the maritime sector globally.
– INFOSHIP ASSET – Technical Ship Management Solution; planning and executing maintenance, inventory- and procurement management solution
– INFOSHIP QUALITY – Quality Management System, certificate management, audit & inspection, questionnaires, event reporting and document management.
– INFOSHIP ELB – Electronic Log Books for the Digital Age
– INFOSHIP PLANNING – Planning and managing dry-dock and other major technical projects
– INFOSHIP PERFORMANCE – empowering strategic ship management, Energy Management, Operational- and Environmental Monitoring and Legal Compliance