Navico acquires Consilium Radar Business

ROMSEY, U.K. - Jan. 2, 2014 - PRLog -- Egersund, Norway – Navico Holding AS, parent company to the Simrad brand, and Consilium AB announced today that Navico has acquired Consilium’s Radar business.

As part of the transaction, Navico takes over all operations of the Radar business in Italy, including research and development, product management and manufacturing. Navico and Consilium have also entered into a sales and distribution agreement. As part of that agreement, Consilium will continue to sell and service the Consilium Selux radar line and will also begin to distribute Navico’s complete portfolio of Simrad Professional products throughout its global sales and distribution network.

This strategic acquisition further secures Navico’s position at the forefront of Professional marine electronics, by adding top quality radar products and radar competencies to its Simrad Professional range of products.

Leif Ottosson, President & CEO of Navico Holding AS said: “The Professional market is a strategic priority for our growth ambitions. With the acquisition of Consilium’s Radar business and the sales and distribution agreement, we will obtain a very strong proven technology and product portfolio, to drive our continued expansion and success within this sector.”

As part of this acquisition, Navico adds a highly talented team of Professional radar experts from design to manufacturing and sales, to its core staff. The Consilium research and manufacturing facilities in Italy (with over 50 years of Radar experience) are now part of Navico.

For more information on Navico visit www.navico.com, to find out more about Simrad Professional Product Range, visit http://pro.simrad-yachting.com. Visit http://consilium.se/marine-safety/navigation for more information on professional radar.

~ENDS~

NOTES FOR EDITORS

About Navico: Navico is the world’s number 1 provider of marine electronics to the leisure segment and is an innovative force within the Professional market. The combination of Simrad, Lowrance and B&G has created a truly global company with products including Navigation, Fish Finders, Radar, Steering (Autopilot), Communication and Racing Performance systems for the Marine market. The products are offered under the Simrad, Lowrance, and B&G brands. Navico Holding AS is majority owned by the Altor 2003 Fund.

About Simrad: The foremost professional marine electronics brand, Simrad is synonymous with the highest quality products, from ECDIS to award-winning Radar and Autosteering to onboard safety. Rugged, reliable and easy to use electronics with innovative features are the bedrock of all Simrad products. Serving a wide market such as passenger ferries, cruise ships, workboats, service vessels and Tugs, Simrad systems integrate with any professional craft. Visit pro.simrad-yachting.com to find out more.

Today the Simrad name is used by two distinct entities: one of these is part of Kongsberg Maritime AS and dedicated to the manufacture of electronics specifically designed for commercial fishing boats, while the other is Simrad Yachting, incorporated into the Navico group in 2006.

About Consilium:Consilium is one of the world’s leading suppliers of safety and navigation products and solutions. The product portfolio comprises systems for fire protection, gas and emission detection, automation systems and navigational equipment, among other things. Systems and products are mainly marketed towards shipyards and ship owners, together with the oil and gas industry. The guiding-star of Consilium’s total offerings is to contribute in the protection of lives, material assets and the environment. Consilium’s goal is to be the customer’s first choice when safety matters and to offer superior customer value. The ambition is to become a global leader within well defined market and product areas, by utilization of the Group’s combined competence, long experience and successful innovations – and thereby create long-lasting shareholder value. Consilium is publicly listed on NASDAQ OMX Stockholm, has more than 550 employees and a turnover of more than SEK 900 million.