The move by Alfa Laval sees the company accelerating its digital business and provision of tools to help customers with decarbonization.
The deal is valued at NOK3.63m ($442,000) on a debt and cash free basis and is expected to be completed in Q2 of this year.
StormGeo has 2,200 customers globally in a variety of industries, including shipping, energy and onshore industries. The company will be part of Alfa Laval's marine business division.
“The acquisition of StormGeo will be a strong addition to our toolbox of solutions that help our customers address the decarbonisation challenge in the industry. Furthermore, StormGeo fits excellently to our digital acceleration ambition, and we will use their digital and customer experience to level up our offerings and to get deeper experience in the digital space,” said Tom Erixon, President and CEO of Alfa Laval.
Søren Andersen, StormGeo CEO said: “Joining Alfa Laval, a world-leading industrial owner, benefits StormGeo by developing our business through increased geographic and technological expansion.
“By investing even more into developing leading software and SaaS products, we enable our customers to improve efficiency and reduce their carbon emissions while keeping their people, assets and operations safe from increasingly extreme weather.”