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ClassNK pays $73m for Napa Group

ClassNK pays $73m for Napa Group
ClassNK has acquired Napa for EUR53m ($73m), it announced today.

Both parties have stressed that the buyout will not affect Napa's relationships with other classification societies, and that details of its clients will remain confidential.

"All major classification societies in the world are Napa's important customers, I think that this acquisition will provide us with the resources to serve them even better," commented Juha Heikinheimo, president of Napa Group. "We will maintain independence of the company, we will maintain Napa's neutrality, and we will also continue to take good care of confidentiality."

For Napa, the acquisition means adjusting to non-profit status, with any surplus being reinvested in research and development. Heikinheimo, believes the move will benefit customers and the wider industry as a whole.

"Napa will not be maximising profits. We will be redirecting the results to better serve all customers and classification societies," he told Seatrade Global.

The class society and software house have worked closely on a number of project previously, the most recent example of which is efficiency software ClassNK-NAPA Green.

Napa software is currently installed on over 2,000 vessels, and shipyards designing over 90% of newbuilds are using the firm's design programmes.

"Over the many years we have worked with NAPA, we have seen first hand the incredible benefits that ship designers and operators can achieve with innovative software solutions. From our work on ClassNK NAPA Manager to our work on ClassNK-NAPA GREEN, NAPA has shown us time and again the utmost importance they place on creating high quality, innovative tools that directly contribute to the development of the maritime industry. This gives us full confidence that the team will go on to reach even greater success with ClassNK," concluded Yasushi Nakamura, ClassNK executive vice president.

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