Sonardyne acquires EIVA
Published by Lydia Woellwarth,
Subsea technology and systems provider Sonardyne International Ltd has acquired maritime software and equipment specialist EIVA A/S.
EIVA will join the Sonardyne group of companies while remaining an independent business and brand. EIVA Chief Executive Officer Jeppe Nielsen, who has been CEO since 2011, will remain in post, while Sonardyne’s Investment and Integration Director Stephen Fasham will take on the role of Chairman.
The acquisition of EIVA is the latest step in Sonardyne’s long-term growth strategy, fully supported by the Partridge family, which founded and continues to own the company. “We are committed to a sustainable future for Sonardyne,” says Simon Partridge, Sonardyne’s Strategy Director, “which includes investing in complementary technologies and enterprises that supplement our core expertise in underwater communications, navigation, monitoring and imaging systems.”
EIVA has more than 40 years’ experience in the development and delivery of software and hardware solutions to offshore and shallow water engineering and survey organisations and is increasingly supporting customers with their requirements for higher levels of automation and remote and unmanned operations through its NaviSuite software. The company employs more than 75 people with headquarters in Denmark.
Sonardyne and EIVA share a common goal of improving marine operation efficiency, enabling further automation, using embedded intelligence and remote operability.
“EIVA and Sonardyne share many of the same corporate values including long-term commitment and focus towards customers, partners and employees,” says Sonardyne Managing Director John Ramsden. “We see great potential in the EIVA product lines as well as synergies between the companies leading to new offerings. Sonardyne has the ability and willingness to accelerate the growth of the company. We are happy to see that the entire EIVA management team has chosen to stay on board to work with us into the future.”
“EIVA has experienced significant growth and profitability in the last several years,” says Jeppe Nielsen. “With a strong market position and unexplored potential, we felt the time was right to secure a new ownership structure for EIVA that allows the continuing management team to take the company to the next level. Sonardyne is an ideal match, culturally, technically and market wise, and we are confident that Sonardyne’s ownership will contribute positively to the future growth of EIVA and add value to our customers.”
Stephen Fasham, Sonardyne’s Investment and Integration Director, and now Chairman at EIVA, said: “EIVA’s day-to-day business activities are very much aligned with our own, including the drive towards remote operations and use of artificial intelligence. They are a crucial piece of the marine data and autonomy jigsaw, which fits very well within our group and will enable us to jointly provide our customers with even greater benefits.”
The terms of the acquisition, which was for EIVA A/S and its parent company EIVA Holdings A/S, were not disclosed.
Read the article online at: https://www.worldpipelines.com/business-news/21052019/sonardyne-acquires-eiva/
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