Tero Marine Acquires Close Competitor

Marinelink.com
Thursday, May 30, 2013
Tero Marines CEO, Jan Erik Hårvei.

Norwegian maritime software house Tero Marine AS has taken a controlling stake in rival company Teomaki AS.  
 


Norwegian maritime software house Tero Marine has acquired 95 percent of the shares in one of its closest competitors, Teomaki. Both companies develop IT control and management systems for offshore and maritime companies. Jan Erik Hårvei, CEO of Tero Marine, is delighted with the acquisition.


 
“Teomaki’s products will be continued and they will form an excellent addition to our already solid portfolio. Access to their software will enable us to offer more customised solutions and means we now cover pretty much every need in the shipping and rig markets,” Hårvei said.


 
Flagship application to sail on

He explained that the acquisition of Teomaki gives Tero Marine the broadest range of applications for maritime operations, procurement and quality control on the market.
 


“Teomaki SM is the company's flagship product and will continue to be developed. We have tremendous faith in this application. The program is one of the best support tools on the market for control and management and is particularly suitable for larger shipping companies and the oil and gas industry. These companies have more complex operations that require a greater degree of software customisation,” explained Hårvei, who added that the takeover will strengthen the development muscles of both companies.


 
“The new company will have one of the strongest development environments on the market. This will put us in position to be able to deliver new products even more rapidly and further increase the level of innovation,” he added.


 
Sales area expanded

Tero Marine currently has subsidiary companies in Singapore and Great Britain, and is represented in Finland, Dubai and USA and is also in the process of establishing a presence in Brazil. Pål Widerøe, CEO of Teomaki, feels Tero Marine’s international network will offer tremendous benefits.
 


“This will significantly expand our geographical sales area and at the same time enable clients to access a larger support network wherever in the world they are,” Widerøe said.

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Winners of International Seafarers' Welfare Awards

The winners of ISWAN's International Seafarers' Welfare Awards 2016 were announced on 24th June at a high-profile ceremony held in Manila, the Philippines. The

Maritime Needs More Women Power

United Nations  International Maritime Organization (IMO) Secretary- General Ki Tack Lim pushed for the increased involvement of women in the seafaring industry

Software Solutions

DNV GL's Sesam GeniE Reduces Engineering Costs

When warping analysis is required during design of certain types of beam offshore structures, it can involve many costly hours of manual calculations by senior engineers.

Simrad Tech for Sydney Fast Ferries

Four new fast ferries, owned and managed by Manly Ferries and operating in the busy waters of Sydney Harbour, will use Simrad technology for safe navigation. The

Demand for Helm CONNECT Software Soars ahead of Subchapter M

Helm Operations  signed on more than 50 commercial maritime companies to its  maritime software, Helm CONNECT, many of whom are trying to prepare for the publication of Subchapter M.

Mergers & Acquisitions

HCI Capital Renamed Ernst Russ AG

A vote was passed at the ordinary shareholders’ meeting of HCI Capital AG yesterday to change the company’s name to Ernst Russ AG. The Executive Board and Supervisory

OSG Joins NYSE "Big Board"

Overseas Shipholding Group, Inc. (NYSE:OSG) (the “Company” or “OSG”) announced today that it has been approved by the New York Stock Exchange (“NYSE”) to transfer

Merger: Survitec Joins Forces with WMS

Survitec Group announced a transformational deal with the Marine Safety business of Wilhelmsen Maritime Services AS (WMS), in which WMS will transfer into Survitec

 
 
Maritime Careers / Shipboard Positions Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1081 sec (9 req/sec)