NAVTOR has announced that it has reached an agreement to acquire Indian software company Ingenium Marine, adding the company’s digital logbook systems to the existing NAVTOR application portfolio.
The two firms have signed a term sheet for the deal, with the transaction subject to execution of definitive agreements. Once completed, Ingenium will become a fully integrated company within NAVTOR and continue to operate from Mumbai.
The move aims to build on NAVTOR’s purchase of US-based vessel analytics and performance optimisation specialist Tres Solutions in early 2021, expanding the firm’s software reach.
“NAVTOR is dedicated to making life simpler, safer, more efficient and profitable for our customers through unique digital solutions,” said NAVTOR CEO Tor Svanes.
“That’s what we’ve achieved through leading the development of e-Navigation and, since the acquisition of Tres Solutions, performance monitoring and optimisation. Ingenium has travelled the same road with logbooks – taking an onerous, complicated, often unreliable and out-dated paper-based system and transforming it for 21st century demands.”
“Digital logbooks may not be mandatory yet, but when the industry sees what is possible, they will be, and there’ll be a rush to adopt to maximise competitive advantage. So, we’re really thrilled to bring the Ingenium team and technology onboard, and genuinely excited to see the positive impact on our global customer base.”
Ingenium has spent the last five years developing its Class and Flag State approved application in compliance with all relevant IMO guidelines and regulatory standards. Instead of crew members filling in paper logbooks the software allows them to input data on a single platform with real-time data sharing to management offices on shore.
“Log-keeping is a big beast, creating a huge administrative workload that is increasingly difficult to manage, but, given regulatory demands, more and more critical to successful, compliant operations. It is also a very valuable data source, but one that is near impossible to properly utilise, given the physical nature of the records,” said Ingenium founder Amitabh Sankranti.
“Here we have a way of radically simplifying data capture, accessibility, transparency and utilisation. Workloads are reduced, decision making enhanced, money saved and compliance made easy. It’s a win for everyone.”
“NAVTOR has been quick to realise the transformational benefits the solutions can offer and how we at Ingenium can complement their overall smart shipping mission. Joining the team was a ‘no brainer’ and, I believe, will supercharge the digital logbook revolution. It’s a fantastic opportunity – for us, but also for shipowners and operators.”