Lloyd’s Register Completes Acquisition Of Ocean Technologies Group

By
Mfame Editor
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9

Lloyd’s Register Group (LR), a global leader in maritime professional services and digital solutions, has acquired Ocean Technologies Group (OTG), a key provider of human capital management (HCM) and operational software for the maritime industry. This strategic move strengthens LR’s position in the maritime sector, building on its acquisitions of OneOcean (2022) and a 50% stake in ISF Watchkeeper (2023).

Significance of the Acquisition

  1. Expanded Digital Capabilities
    • OTG offers training, compliance, HR, and operational software to over 1,000 shipowners/operators and serves more than one million seafarers globally.
    • LR now integrates OTG’s offerings with LR OneOcean’s solutions, covering a combined fleet of 30,000 vessels worldwide.
  2. Enhanced Client Benefits
    • Integrated Digital Solutions: Clients will gain access to an unparalleled suite of services combining HCM, operational tools, and compliance solutions.
    • Efficiency: A streamlined, one-stop platform will enhance operational efficiency and simplify compliance for shipowners and operators.
  3. Focus on Digitalisation and Decarbonisation
    • LR’s expertise in digitalisation now extends to human capital management, aligning with industry trends in energy transition and sustainability goals.
  4. Commitment to Innovation
    • LR and OTG’s combined resources will foster innovation, enabling maritime companies to adapt to evolving regulations and operational demands.

Leadership Statements

  • Nick Brown, CEO of Lloyd’s Register:
    “With OTG now part of LR, we are uniquely positioned to lead the way in maritime digitalisation and decarbonisation as a trusted partner. The merger allows us to offer an unmatched suite of digital solutions, streamlining operations and improving efficiency for our clients.”
  • Thomas Zanzinger, CEO of OTG:
    “Joining LR expands our capabilities within an organisation that shares our mission of driving a digital and sustainable future. Our leadership team is committed to ensuring a seamless integration process that prioritises client satisfaction and agile innovation.”

Industry Implications

This acquisition reinforces LR’s role as a pivotal player in maritime digitalisation and sustainability. By integrating

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Source: LR