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OSLO, Norway, March 16, 2016 /PRNewswire/ -- Digital Marine Solutions announced today it has signed a purchase agreement to acquire the marine division of Jeppesen, subject to regulatory approval.
Under the terms of the agreement, the former Jeppesen Marine will operate as a separate entity with its own dedicated resources and will trade under the C-MAP brand name. Jeppesen will remain as part of The Boeing Company.
Digital Marine Solutions is owned by the Altor 2003 Fund, which is part of the Nordic based Altor family of private equity funds. This strategic acquisition leverages Altor's experience in the Marine industry, where it also is the majority owner of the Navico house of marine brands. Digital Marine Solutions will ensure that Navico and other 3rd party electronic manufacturers continue to have access to the C-MAP portfolio for both recreational and commercial marine. Over time Digital Marine Solutions will develop C-MAP's capabilities and sales by offering enhanced charting, digital content, and services solutions.
"Jeppesen Marine is one of the premier players in electronic charting and value added services for recreational and commercial marine," said Leif Ottosson, future chairman of the buyer. "We look forward to working with the Jeppesen Marine team to create fresh innovations and to continue to work with Jeppesen Marine's existing customers to further grow the business."
"This is good news for the marine electronics industry, Jeppesen Marine staff and consumers, as C-MAP's high quality products and services will continue to be offered thus keeping the diversity in the market," said James Detar, Director Light Marine Portfolio at Jeppesen Marine.
"We believe that with the vision and values of Digital Marine Solutions we can further improve our portfolio and better service our customers," said Egil Aarstad, Director Voyage Solutions at Jeppesen Marine.
Pending regulatory approval, the transaction is expected to be completed toward the end of the second quarter, 2016.
For information on Jeppesen Marine visit c-map.jeppesen.com and ww1.jeppesen.com/marine.
CONTACT: Andrew Golden, Rushton Gregory Communications, firstname.lastname@example.org, Tel. 617-413-6521