StormGeo Group, a global provider of weather and asset risk management for the Offshore, Shipping, Renewable, Media and Aviation industries, has acquired all outstanding shares in the Company Applied Weather Technolgy Inc (AWT) from the Founders in a cash transaction.
The combined size will propel StormGeo Group into a world leading position within decision support for weather sensitive operations in the shipping and offshore industries. The combined Group covers all geographic areas in the world on a 24/7 operational basis. AWT Inc is headquartered in Silicon Valley, California with 11 offices in 7 Countries. AWT has for more than 15 years built an outstanding reputation within marine forecasting. With the most experienced ship routing experts and sophisticated software systems AWT daily provides decision support to more than 5000 ships.
This is a transformational transaction for StormGeo, as the Group, post transaction, will be a global leader in servicing the maritime and offshore industries, across traditional shipping, Oil&Gas exploration, drilling and production, support vessels, offshore wind farms and other weather sensitive operations carried out at sea. A combination of best in class technology combined with local expertise and a “hands on” approach secures optimal efficiency for owners and operators with no compromise of safety.
The core focus of the combined Group will remain a broad approach to safeguarding weather related operations with tailored software and decision support systems. Key industries will be shipping and offshore, renewable energy, media and aviation.
The combined Group will operate out of 22 offices in 14 countries with more than 320 employees. The acquisition of AWT will significantly expand the footprint of StormGeo in the US and the Asian markets.
By combining geographic reach, competencies and product platforms, StormGeo Group will be able to further enhance its offering to industrial operators in key industries affected by harsh weather and changes in climate.
By coordinating AWT’s best practice global routing services with our strong research driven approach, we will meet the demand of global operators that prefer one certified supplier with one product platform and local operational presence across all time zones and in all major markets.
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