Singapore-listed shipbuilder Vard Holdings has acquired automation company ICD Software in a move to strengthen its equipment and solutions portfolio.
ICD Software specialises in automation and control system software for offshore and marine sectors. The company employs around 63 staff, with half of them based in Norway, while the rest are divided between its two subsidiaries in Poland and Estonia.
The acquisition was completed by Vard’s subsidiary Seaonics, which supplies winches, cranes, and handling equipment to offshore and maritime sectors. Seaonics has 50 employees in Norway and a subsidiary in Poland.
Through the acquisition, Seaonics’ scope of business will be expanded to develop and deliver significant equipment parts for drilling vessels. These parts include automation systems for cranes, winches, and other deck-handling equipment, including innovative drilling tower solutions from its part-owned Norway-based company Castor Drilling Solution.
On the other hand, ICD Software is expected to be an important contributor to the development of new products for Seaonics and other companies in the Vard group by providing its know-how and experience in automation and drive systems.
“This acquisition is a catalyst for growth and development of Seaonics. The integration of in-house developed automation and control system software enables us to offer a complete complex product delivery to the customer,” emphasised Stig Bjørkedal, Vard executive vice-president for equipment and solutions and Seaonics chairman.
This post was sourced from IHS Maritime 360: View the original article here.
