Maritime communications tech firm Pentonet reports that it has concluded a deal to acquire the commercial fleet services, customer accounts, assets, and business of shipping GSM provider On-Waves, the maritime services arm of Icelandic telecoms company Siminn.
“The cooperation between On-Waves and Pentonet has been ongoing for a year or more and now is the right time to bring things together on a formal basis so that we may offer extended services and functionality to the former On-Waves customers,” said Darryn Trowell, CEO and Founder of Pentonet.
Specifically, the acquisition is for services provided to commercial ships and pre-paid services to the crew of these vessels. The contract will expand Pentonet’s current customer base with these new additions as well as adding new service and product options to existing On-Waves serviced ships.
On-Waves’ customer base will be fully integrated within the Pentonet served fleet and will be provided with a variety of standard Pentonet services that will improve upon or maintain their current service levels and commercial agreements, the company said.
Kristinn Ingi Lárusson, the former CEO of On-Waves, will take up a position on the Pentonet Board following the transition, to lend his experience to the integration of the new business.
“I am delighted to see this transaction complete, as it will benefit all parties both in the short and long term. The additional services that Pentonet have in their product portfolio will be of real benefit to the On-Waves customers,” said Mr Lárusson.