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Wärtsilä buys Eniram for $47.8m, boosts digital portfolio

Wärtsilä buys Eniram for $47.8m, boosts digital portfolio
Engine manufacturer Wärtsilä is paying EUR43m ($47.8m) to buy over Eniram, a Finnish energy management and analytics company from 1 July this year.

Helsinki-headquartered Eniram, which had a turnover of more than EUR10m in 2015, has sensor and analytics equipment on 270 vessels and is well-known for its expertise in saving fuel and cutting emissions. Its services include single on-board apps to optimise trim, engine management and speed, as well as comprehensive fleet-wide analysis.

The company is also pioneering new technology to monitor boil-off on board LNG carriers in real time. This is likely to lead to a predictive tool enabling accurate forecasts of boil-off on a particular route at a specific time of year. The company has 89 employees working out of Helsinki, UK, US, Germany and Singapore and “will initially continue as a strong independent business entity supported by Wärtsilä’s global capabilities”.

Commenting on the deal, Eniram co-founder and ceo Henrik Dahl noted the accelerating trend throughout shipping towards digitalisation and connectivity. “Wärtsilä’s leading market position couple with Eniram’s cutting-edge technology forms an unbeatable combination in the marine digitalisation space,” he said.

The acquisition will strengthen The Wärtsilä Genius service, launched in November last year, uses real-time data and analytics to assist customers in the remote condition monitoring and optimisation of on-board power consumers. A virtual service engineer is also available as part of the service, enabling remote diagnostics.

Speaking for Wärtsilä Services president, Pierpaolo Barbone, said that Eniram’s services truly complemented the Wärtsilä Genius portfolio. “Together we will enable our customers to optimise their assets and improve predictability, as well as support them with real-time analytics. Further product launches from Wärtsilä and Eniram are to be expected in the near future,” he added.