Arribatec acquires IB Marine Group
Arribatec has secured a call option to acquire IB Marine Group, a leading provider of cloud-based Enterprise Asset Management solutions within the maritime sector, as part of the international expansion strategy.
Arribatec and IB Marine Group expect proforma revenues in the range of NOK 350 million in 2020, with annual recurring revenues of 37% and a positive adjusted EBITDA. 40% of the total revenue will be derived from business outside Norway.
IB Marine Group is an Italian-based software company providing a set of integrated solutions to manage, operate, maintain and document legal compliance within the maritime sector globally. InfoShip is the product name and commences of the following cloud solutions driving digitalisation within the maritime sector globally.
"IB has a strong position within the maritime sectors, providing a cloud-based Enterprise Asset Management solution to more than 60 customers in 11 countries with over 10 000 users."
Giampiero Soncini, CEO of IB Marine Group says;
– An acquisition of Arribatec, with its leading team, products and financial capacity, will provide a robust platform for an improved offer to our customers, industry consolidation and drive digitisation through Solution-as-a-Service (SolaaS) to the entire shipping sector globally.
The potential acquisition will strengthen our joint offer to the maritime sectors, deliver SolaaS to a pipeline of high-potential customers, and is key to our global growth strategy, says Ronny Stav.
