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Cargotec to acquire Navis

Thursday, 10 Feb 2011 ( #500 ) - Stockholm, Sweden
News Story
Cargotec has entered into an agreement to buy terminal operator systems (TOS) provider Navis from Zebra Technologies Corp in the US.

The transaction value is about USD190 million.

Mikael Mäkinen, Cargotec’s president and CEO, says the acquisition supports the company’s strategy to focus on customers and invest in attractive customer segments. "Navis solutions are a core component of a terminal operator’s business. By adding Navis to our portfolio, we will be able to offer total solutions for terminals."

Mäkinen adds that Cargotec sees "excellent opportunities for growth and innovation" in acquiring Navis.

Cargotec claims Navis’ flexible and scalable TOS software is the leading system globally in marine terminals, rail yard operations and distribution centres. Navis systems help customers co-ordinate and automate the movement of containers and equipment in terminal and yard environments, and enable customers to manage the operations of a single terminal or multiple terminals in different geographical locations from a central location.

Bill Walsh, senior vice president of Navis, says Cargotec will provide his firm with insight into world-class equipment that is used in all of its customer segments. "Joining forces creates exciting possibilities to improve terminal operations."

Navis, headquartered in Oakland, California, was founded in 1988. The company has over 300 employees, most in the US and India. Marine container terminals are its core market and its solutions are used in over 50 countries. Its sales are expected to be about USD70 million in 2011, with around 40% in recurring sales.

The acquisition is subject to regulatory approvals from competition authorities, which are expected to be received in the first quarter of 2011.
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