Teledyne acquires marine navigation specialist
American digital imaging provider Teledyne Technologies has acquired the digital marine navigation specialist ChartWorld International Limited and its affiliates for an undisclosed sum.
Established in Germany in 1999, ChartWorld, with its HQ in Cyprus, is a leading provider of digital marine navigation hardware and software provided through a subscription-based model. The firm provides digital electronic navigational charts and other software, including digital route appraisal and voyage planning systems.
ChartWorld has about 145 employees spread across locations in Cyprus, Germany, Singapore, Canada and Japan. Commercial maritime subscribers to ChartWorld’s software as a service (SaaS) receive free type-approved Electronic Chart Display and Information Systems (ECDIS), and global 24/7 support. The business also provides digital Electronic Navigational Charts (ENCs) and other geospatial software and services, including onshore software for fleet monitoring and risk assessment.
ChartWorld affiliate, SevenCs, continues to provide ENC production and distribution software, as well as software development kits for displaying electronic nautical charts in accordance with maritime standards to other navigation system OEMs. The company’s SevenCs brand has collaborated with Teledyne in the development of electronic chart standards for 30 years, while Raymarine has more recently began to embed SevenCs software into their displays.
Robert Mehrabian, Teledyne‘s Chairman, President and Chief Executive, said:
“ChartWorld’s maritime navigation software and hardware tools bridge a product and technology gap between our Teledyne Marine and Raymarine businesses.
“Furthermore, the acquisition adds to our software capabilities and recurring revenue, while expanding our customer base to include commercial Safety of Life at Sea (SOLAS) class vessels and their commercial fleet operators. We are pleased to have now completed our second acquisition for the Teledyne FLIRand Raymarine organisations in the last six months.”
Teledyne Technologies, parent to the Raymarine and FLIR Imaging banners, is based in California and provides enabling technologies to sense, transmit and analyse information for industrial growth markets.
The company manufactures industry-leading solutions for harsh underwater environments, including instrumentation, imaging, interconnect solutions, seismic sensing and unmanned vehicles. Its deep water SeaRaptor AUV provides high resolution data for long duration deep sea operations to 6,000m.
Steven Schootbrugge, ChartWorld’s CEO, commented:
“We were impressed with the approach from Teledyne from the beginning and are confident the complementary product lines, technology, and vision will be fantastic for the Chartworld and SevenCs brands.
“Beyond this, I am genuinely excited for our people, who I believe, will have ample opportunity for growth and development inside the Teledyne group.”