The acquisition has a transaction value of EUR 210 million (about $251 million).
Transas is a leader in marine navigation solutions that include complete bridge systems, digital products and electronic charts. It is also a leader in professional training and simulation services, as well as ship traffic control systems.
In acquiring Transas, says Wärtsilä, it "takes a big step forward in achieving its mission of enabling sustainable societies with smart technology. It will also speed delivery on the company's promise to disrupt the industry by establishing a Smart Marine ecosystem. Wärtsilä envisions a secure, smart, and cloud-based future through the development of applications that leverage machine learning and artificial intelligence."
Transas currently has net annual sales in the region of EUR 140 million and employs approximately 1,000 people working from 22 regional offices worldwide. They will become integrated within Wärtsilä's Marine Solutions business. It is expected that the company's large base of software engineers will play a key role in assisting Wärtsilä in the development of smart products and a digital platform.
"Combining Transas with Wärtsilä will bring the Smart Marine Ecosystem many steps forward. It is a very positive move for both parties, and we welcome the Transas team into our organization," says Roger Holm, President, Wärtsilä Marine Solutions.