Mintra Holding, a provider of e-learning and Human Capital Management systems, has acquired the maritime digital training firm Safebridge for a total consideration of €5.95 million, in a move to capture immediate market share in the global maritime sector.
The acquisition will double Mintra’s maritime e-learning portfolio, with the addition of more than 50 technical and compliance titles, as well as adding a range of new crew management and certification technologies.
The addition of Safebridge to the Mintra Group follows earlier acquisitions of OCS HR in 2016 and Atlas Knowledge in 2018, bringing in Safebridge’s 500 new customers and 200,000 maritime users to the existing client base.
“This is a significant move for Mintra in the maritime space, and substantially boosts this revenue line. At a time of travel restrictions and physical distancing, it is important that we continue to expand our online services to support our customers operating around the world,” said Scott Kerr, CEO of Mintra.
“As one of our existing partners in our online marketplace, the Safebridge course portfolio is hosted on Mintra’s learning and competence system, so can be made instantly available to our customers. Conversely, we will make the full Mintra course library available to customers from Safebridge.”
“Safebridge has a strong reputation in the market, with an excellent team and products, and a loyal customer base. In welcoming Safebridge to the Mintra family, we increase our capabilities in maritime and create an opportunity to share this specialist knowledge and expertise with our wider customer base.”
Safebridge generated annual revenue of approximately €3.5 million as an independent company, with about 90% of that figure coming from e-learning products. The firm is headquartered in Hamburg, Germany, but with most employees and operations running out of its Cyprus subsidiary.
“Today marks the beginning of an exciting new chapter for Safebridge; one where we can share, combine and accelerate our mission to grow with the Mintra team,” said Ralph Becker-Heins, CEO of Safebridge.
“Not only does this acquisition allow us to provide a greatly expanded offering for Safebridge customers, it provides an exciting opportunity for the Safebridge team to be part of Mintra’s and support the development of a market-leading business.”