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LR ACQUIRES MARINE CHARTING BUSINESS

LR ACQUIRES MARINE CHARTING BUSINESS

Monday, December 7, 2020 

Lloyd's Register (LR) has reached an agreement to acquire Navico Groupís C-MAP commercial marine business, a leading provider of commercial marine cartography and digital publications, shore-side and shipside voyage optimisation, cloud-based fleet management and fleet analytics software.

The acquisition will be integrated with the i4 Insight platform, strengthening the existing performance platform ecosystem. The acquisition builds on LR's vision of solving problems with integrated digital solutions with the aim of conquering the challenge of isolated and disconnected maritime systems. It follows recent partnership agreements between i4 Insight and other maritime players including Greensteam and Laros.

C-MAP’s commercial products and services have been part of the Navico Group, the largest manufacturer of marine electronics, since 2016. The acquisition includes C-MAP’s charts and publications, route planning and fleet management, weather services, professional services, and marine hydrographic services.

“This important development is further evidence of how LR is rapidly building up our maritime digital solutions. In particular, this acquisition enables us to strengthen how we help our clients, and the maritime industry more broadly, accelerate operational efficiency improvements. Importantly, the capabilities we have acquired are highly relevant to the industry’s goal of simultaneously reducing costs and emissions. This forms part of our wider strategy where we are combining inhouse, proprietary software development with alliance partnerships, corporate venturing and acquisitions – to build more cohesive and integrated digital solutions specifically tailored to maritime market needs,” said Nial McCollam, LR CTO.

“We now have an opportunity to further enhance our i4 Insight platform with a powerful set of navigation products and optimisation tools,” said Joel Meltzner, CEO of i4 Insight. “By adding these complementary products and services to our existing capabilities we continue extending our digital strategy focused on ensuring customers have the right information at the right time to solve key operational challenges.”

“C-Map Commercial is a fantastic business with great potential, and this is exciting news for anyone associated with the business. Lloyd’s Register is an ambitious organisation that has a long history in shipping and outstanding relationships with its customers. They are focussed on taking C-MAP Commercial to the next level,” said Knut Frostad, CEO, Navico Group. “Navico’s broader strategy is to focus its growth in the recreational and light commercial space, and this divestment aligns precisely with that.”

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