AWT Shares Acquired by StormGeo
Applied Weather Technology, Inc. (AWT), announced the conclusion of an agreement with weather specialist company StormGeo under which the full shareholders stock in the company has been acquired by Norwegian basedStormGeo A/S.
Following the acquisition, AWT will continue to deliver its range of ship route advisory services and maritime weather and decision support software products under the AWT brand name to ship owners and operators worldwide.
AWT Chairman and founding owner Jung Soo Kang describes the deal as a “friendly acquisition that is in the interests of both companies, their employees and customers.”
According to AWT CEO Haydn Jones, “The two companies have complementary strengths: StormGeo is very strong in the offshore oil and gas sector, AWT is a brand leader in routing and weather based decision support services for commercial shipping.” The combined group expects to gain technical and data synergy advantages from the merger that will benefit the full range of maritime customer market sectors.