LR Acquired C-MAP Commercial from Navico Group

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LR has acquired the C-MAP commercial marine business from Navico Group, reports LR.

About The Transaction

The transaction for the leading provider of commercial marine cartography and digital publications, shore-side and shipside voyage optimization, cloud-based fleet management and fleet analytics software was completed on 3 March 2021.

Integrated Digital Solutions

C-MAP will be integrated with the i4 Insight platform, strengthening the existing performance platform ecosystem and this acquisition builds on Lloyd’s Register’s vision of solving problems with integrated digital solutions that will conquer the challenge of isolated and disconnected maritime systems. It follows recent partnership agreements between i4 Insight and other maritime players including Greensteam, FNT and Laros.

Andy McKeran Comments

“LR is determined to become a trusted advisor for operational efficiency solutions. Our i4 Insight platform, which is being enhanced by the acquisition of C-MAP, will enable our customers to optimise their vessel performance assets, making their businesses more sustainable in an increasingly competitive world,” said Andy McKeran, LR’s Director of Maritime Performance Services.

Joel Meltzner Comments

“C-MAP’s navigation products and optimisation tools not only enhance our platform but also provide further evidence of how LR is rapidly building up our maritime digital solutions. This acquisition enables us to strengthen how we help our clients, and the maritime industry more broadly, accelerate operational efficiency improvements. I am excited to work with this talented team as we continue to help our customers solve key challenges,” said Joel Meltzner, Chief Executive Officer of i4 Insight.

Knut Frostad Comments

“C-Map Commercial is a fantastic business with great potential, and this is exciting news for anyone associated with the business. Lloyd’s Register is an ambitious organisation that has a long history in shipping and outstanding relationships with its customers. They are focussed on taking C-MAP Commercial to the next level,”said Knut Frostad, Chief Executive Officer, Navico Group.

“Navico will focus its growth in the recreational and light commercial space, and this divestment aligns precisely with that ambition,” Frostad added.

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Source: LR