ShippingWatch

Alfa Laval buys StormGeo following bidding war

There were plenty of interested buyers for tech company StormGeo, but the company ultimately decided to enter a deal with Sweden's Alfa Lava, which placed the best offer, says partner in StormGeo's majority owner EQT to ShippingWatch. Updated.

Rikke Kjær Nielsen, partner in EQT, informs ShippingWatch of multiple interested buyers for StormGeo. | Photo: Thomas Emil Sørensen/ERH

Monday, tech company StormGeo announced that it is being acquired by Swedish Alfa Laval in a large-scale transaction.

The acquisition price is close to NOK 3.6 billion (USD 439 million), and the transaction results in StormGeo becoming part of Alfa Laval's maritime business, informs the tech company in a press release.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Argentine port workers strike for access to Covid-19 vaccines

Nine unions representing Argentine port workers have announced a 24-hour strike in protest against the lack of access to coronavirus vaccines. The strike takes place amidst a new coronavirus outbreak in the country, which is a major dry bulk exporter.

Tradelens hopeful that major Maersk rivals will soon be integrated

Hapag-Lloyd and ONE continues to be absent on the digital platform Tradelens even though they announced they would join two years ago. "We are hopeful that they will be joining very soon," says Head of Tradelens Mike White. Hapag-Lloyd expects to make a decision soon.

Further reading

Related articles

Latest news

See all jobs