GTT has agreed a deal to acquire maritime data analytics company Danelec from investment fund Verdane, in a deal valued at €194 million.
The acquisition of 100% of Danelec’s operations will expand GTT’s digital installed base to approximately 17,000 vessels and strengthen its position in the vessel performance management and VDR markets.
Danelec’s systems are currently installed on more than 15,500 vessels, and the company says that it also holds a 15% market share in Voyage Data Recorders globally.
Danelec will be added to GTT’s existing digital offerings Ascenz Marorka and VPS, with the group aiming to leverage synergies across its newly expanded portfolio to support operational efficiency, safety and decarbonisation.
Founded in 1995 and headquartered in Denmark, Danelec has 168 employees and a network of more than 700 technicians worldwide. In 2023/2024, the company reported revenue of approximately €44 million.
“This acquisition fully aligns with our development strategy in the digital field and marks an important milestone for the Group,” said Philippe Berterottière, Chairman and Chief Executive Officer of GTT.
“Danelec is a recognised player in the maritime digitalisation, with a strong reputation, a significant installed base, and high-quality management team. With this transaction, GTT becomes the global leader in the high-growth segment of vessel performance management and positions itself as a leading player in the strategic VDR market.”
“In a rapidly expanding digital maritime market, this acquisition further strengthens our leadership position, while creating value for our shareholders.”
The deal is expected to close in the second half of 2025, subject to standard closing conditions.
