AKVA sells Maritech business in Norway

Industry Database

AKVA group Software AS, a wholly owned subsidiary of AKVA group ASA, has entered into an agreement with Fishware Invest AS, for sale of the Maritech business in Norway for a price of NOK34.5m.

The transaction will be completed on 17 February 2012 with operational effect from 1 February 2012. Assuming completion takes place as planned, the sale will generate a NOK28m gain for AKVA.

The Maritech business in Norway is a part of the business activities in AKVA group Software AS, but is considered to be outside AKVAs core business. Therefore the company says that the sale is a natural step in focusing the activity of the group and will strengthen the basis for developing the core business. AKVA will, following the transaction, be developing and strengthening further the remaining business of AKVA group Software AS, known under the brand Fishtalk.

“The sale of the Maritech business in Norway is a natural step in order to focus the operations of AKVA, giving us the opportunity to further strengthen and develop our remaining core software activities in AKVA group Software AS, known under the brand Fishtalk. Fishtalk is the leading best of breed software within aquaculture globally, and is in use by customers in all regions where AKVA is present. Our intention is to develop Fishtalk to strengthen the brand's position further as well as meet our customers' needs for specialised solutions for aquaculture operations”, states Trond Williksen, CEO of AKVA group ASA.

The Maritech operation in Norway delivers ERP services and software specifically tailored to seafood companies. In total 38 people work in the Maritech operation in Norway and will follow the business in the transaction.

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