THOUSAND OAKS: Teledyne Technologies Incorporated (NYSE:TDY) has acquired ChartWorld International Limited and affiliates.
ChartWorld, headquartered in Cyprus, with additional locations in Hamburg, Singapore, Vancouver and Tokyo, is a number one supplier of digital marine navigation hardware and software program provided through an affordable subscription-based model. Terms of the transactions weren’t disclosed.
Commercial maritime subscribers to ChartWorld’s software program as a service (SaaS) obtain free type-approved Electronic Chart Display and Information Systems (ECDIS), a lifetime guarantee and global 24/7 support.
ChartWorld additionally provides digital Electronic Navigational Charts (ENCs) and different geospatial software program and services, together with digital route appraisal and voyage planning, in addition to onshore software program for fleet monitoring and risk assessment.
ChartWorld affiliate, SevenCs, has a lengthy and proud historical past of participation within the event of requirements regarding digital maritime chart display. Today, SevenCs continues to present ENC manufacturing and distribution software, in addition to software program development kits for the show of digital nautical charts in accordance with maritime requirements to different navigation system OEMs.
“ChartWorld’s maritime navigation software program and hardware instruments bridge a product and technology hole between our Teledyne Marine and Raymarine businesses,” said Robert Mehrabian, Chairman, President, and Chief Executive Officer.
“Furthermore, the acquisition provides to our software program capabilities and recurring revenue, whereas increasing our buyer base to incorporate commercial Safety of Life at Sea (SOLAS) class vessels and their commercial fleet operators. We are happy to have now accomplished our second acquisition for the Teledyne FLIR and Raymarine organizations within the final six months.”
Teledyne Technologies is a number one supplier of sophisticated digital imaging merchandise and software, instrumentation, aerospace and protection electronics, and engineered systems. Teledyne’s operations are primarily located within the United States, Canada, the United Kingdom, and Western and Northern Europe.