NAVTOR Acquires Tres Solutions
Photo courtesy NAVTOR/Tres Solutions
“We (explored) the market and we ended up with Tres Solutions, the very best in the market,” said Tor Svanes, CEO, NAVTOR. Photo courtesy NAVTOR
NAVTOR continues to evolve its eNavigation solutions with the acquisition announced today of Tres Solutions, a 5-year-old Houston-based tech start up that specializes maritime software and analytics, a natural fit for NAVTOR as it pushes to expand its role in the global fleet’s vessel analytics and performance optimization.
Financial specifics of the acquisition were not made available.
“We (explored) the market and we ended up with Tres Solutions, the very best in the market,” said Tor Svanes, CEO, NAVTOR.
The purchase follows on the heels of NAVTOR’s launch of NavFleet, a fleet management application delivering real-time operational insight, performance optimization and enhanced business decision making. Tres Solutions’ digital products will now integrate into NAVTOR’s offering, creating a unified platform designed to help shipowners and operators enhance operations.
NAVTOR solutions today are onboard 7000 individual vessels.
In August 2020, Accel-KKR, a Silicon Valley operation with more than $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.
DLA Piper LLP and Brodies LLP provided legal advisory for NAVTOR on the transaction; McGuireWoods LLP served as legal advisors for Tres Solutions.
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