Wärtsilä has signed an agreement to acquire Eniram, a Finland-based technology company providing the marine industry with energy management and analytics solutions.
The acquisition of Eniram will enable Wärtsilä to grow and strengthen its digital offering and in-house capabilities, specifically in data analytics, modelling and performance optimisation.
Eniram provides the maritime industry with energy management technology to reduce fuel consumption and emissions. Eniram’s solutions range from single onboard applications for trim, speed and engine optimisation to comprehensive fleet analysis. The company’s solutions are installed in over 270 vessels; saving fuel, increasing profitability and reducing harmful emissions. Eniram is headquartered in Helsinki, Finland and has subsidiaries in the UK, the USA, Germany and Singapore. In 2015, Eniram’s turnover exceeded €10 million with 89 employees worldwide. Eniram will initially continue as a strong independent business entity supported by Wärtsilä’s global capabilities. The transaction is valued at €43 million (enterprise value). Ownership of the company will be transferred to Wärtsilä with effect from 1 July 2016.
“Through this acquisition Wärtsilä takes a solid lead in marine digitalisation. Going digital plays a strong role in our strategy and supports our aim to make both Wärtsilä and our customers more competitive. For us it means growing organically and via acquisitions. We will build strategic partnerships, innovate with start-up companies and continuously recruit new people to strengthen our digital expertise. Digitalisation offers significant growth potential for our customers and for Wärtsilä,” Jaakko Eskola, president and chief executive, Wärtsilä Corporation, commented.