Deal struck to sell Navis

The agreement will see Navis sold to Accel-KKR, a Silicon Valley-based leading technology-focused investment firm.

Mika Vehviläinen, chief executive officer of Cargotec, said: “We are pleased to have reached this agreement that delivers a great home for Navis and maximises value for our stakeholders. The transaction will secure the best possible growth and value creation for the next development phase for Navis.”

This deal follows the announcement in February 2020 that Cargotec would evaluate strategic options for Navis to identify the best options to support the future development of Navis. In December 2020, Cargotec announced that the Board of Directors has decided to initiate the actual sales process of the Navis software business.

Cargotec expects that the deal will have approximately EUR230m positive impact on its operating profit in 2021.

The deal is expected to close by the end of Q3 2021. In 2020, Navis recorded sales of EUR107m.