BASS Sells Out of Star Information Systems

Thursday, January 13, 2011

BASS Software Ltd., global provider of software for fleet and rig management, will use the financial resources it freed up after selling itself out of Star Information Systems (SIS) to continue to invest in its own business by pursuing new markets and developing new products.

In 1999, BASS bought a 34 percent stake in SIS, a supplier of maritime software, as an opportunity to complement its product assortment and geographical reach. Since then, however, a strained liquidity situation and very low profit margins have prevented SIS from paying out dividends and investing adequately in product and technology upgrades.

Because of SIS’ poor performance and its need for major funding over a long period of time to upgrade its products and technology platform, BASS approached the other shareholders asking to discuss an exit strategy, something they were not willing to do. When SIS asked shareholders for additional funding in June, BASS saw this as a divestment opportunity and agreed with other shareholders in September to sell its stake in the company.

BASS already invests substantially in product development, with about 25 percent of revenue earmarked for this purpose, and the fresh capital will further bolster these efforts. The extra funds will also allow BASS to pursue new markets and customers, including attractive offers to upgrade to BASSnet – a more comprehensive and modern solution.


Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Cutter Diligence to Return

The crew of the Coast Guard Cutter Diligence is scheduled to return to their homeport in Wilmington Saturday following a 45-day patrol in the Caribbean Sea. During their patrol,

Zarmati joins Fathom

Fathom has engaged 44-year cruise industry veteran Maurice Zarmati to work with the burgeoning company. Fathom, which provides a different kind of cruise that

HMS Protector Deployed to Antarctic

Ice ship HMS Protector is heading for waters no Royal Navy vessel has visited in 80 years as she begins a marathon deployment to Antarctica. The Plymouth-based


Moody Upgrades Port of Palm Beach

The Port of Palm Beach District announced that Moody’s Investors Service, Inc. upgraded the Port of Palm Beach District senior rating to Baa3 from Ba1, and reported the outlook to be stable.

Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

Commodities See Biggest Price Jump in 3 Years

Commodities jumped on Friday, headed for their largest weekly gain in more than three years as base metals roared higher after Glencore pledged to slash zinc output

Maritime Careers / Shipboard Positions Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1569 sec (6 req/sec)