Cargotec will proceed with the sale of its Navis business.

In October 2020, the company announced that it would continue to evaluate the strategic options of Navis, which included new ownership structures or a potential sale of the Navis software business.

As part of the evaluation of options, a preliminary call for tenders was conducted. The amount and level of the received preliminary and indicative offers suggest that proceeding with a sale is a better possible option for Cargotec and Navis than other presented solutions. Consequently, Cargotec's Board of Directors has decided to initiate the actual sales process of the Navis software business.

The preliminary indicative offers are not binding and the possible sale of the Navis software business and the terms of the transaction will only be confirmed once the actual sales process has been completed.

Cargotec aims to complete the sales process during the first half of 2021.

Navis is a global leader providing mission-critical software solutions and services to port and terminal operators, ocean carriers, ship owners and inland logistics operators.
Cargotec's other software business is not part of the Navis software business evaluation.
The company is currently in the throes of a merger with Konecranes, which was also initiated in October.

At the time, the two parties said the merged entity would be "a customer-focused global leader in sustainable material flow" with a combined annual sales of approximately EUR7 billion (USD8.25 billion) and an operating profit of approximately EUR565 million (USD666 million) based on fiscal year 2019.