Both Norwegian companies develop IT control and management systems for offshore and maritime activities. Tero Marine has bought 95 per cent of the shares in Teomaki.
CEO Jan Erik Hårvei said that the acquisition gives its company the broadest range of applications for maritime operations, procurement and quality control on the market. “Access to their software will enable us to offer more customised solutions and means we now cover pretty much every need in the shipping and rig markets.”
“Teomaki SM is the company's flagship product and will continue to be developed. We have tremendous faith in this application,” said Mr Hårvei. “The program is one of the best support tools on the market for control and management and is particularly suitable for larger shipping companies and the oil and gas industry. These companies have more complex operations that require a greater degree of software customisation.”
Tero Marine currently has subsidiary companies in Singapore and Great Britain. It is represented in Finland, Dubai and the USA and is establishing a presence in Brazil.
Pål Widerøe, CEO of Teomaki, said after the acquisition: “This will significantly expand our geographical sales area and at the same time enable clients to access a larger support network wherever in the world they are.”