INTPOW member StormGeo expands dominance in weather decision support with acquisition of Applied Weather Technology (AWT)

28.01.14

INTPOW member StormGeo, a global provider of weather and asset risk management for the offshore, shipping, renewable, media and aviation industries, has acquired all outstanding shares in Applied Weather Technology (AWT). This acquisition propels StormGeo into a world-leading position within decision support for weather sensitive operations in the shipping and offshore industries.


AWT, headquartered in Silicon Valley, California, has 11 offices in 7 countries. They have been a leader in marine forecasting for over 15 years, supporting more than 5,000 ships per day with routing guidance and operational efficiency.

The core focus of the combined group is a broad approach to safeguarding weather sensitive operations with tailored software and decisions support systems. With the addition of AWT, the StormGeo family of companies will now span 14 countries, with 22 offices and more than 320 employees.

INTPOW member DNV GL has converted loans and invested an additional NOK 50 mill to secure 24 % ownership in the new company.
 

Source: StormGeo
 



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