Finnish engine firm Wärtsilä has agreed to buy Eniram for 43 million euros, marking a major exit in Finnish startup scene.
“The acquisition of Eniram will enable Wärtsilä to grow and strengthen its digital offering and in-house capabilities, specifically in data analytics, modelling and performance optimisation,” it said in a statement.
Eniram provides the maritime industry with energy management technology to reduce fuel consumption and emissions. The company’s solutions are installed in over 270 vessels. In 2015, Eniram’s turnover exceeded 10 million euros, with 89 employees worldwide.
“With the accelerating trend of digitalisation and connectivity, there is an enormous amount of innovation happening across the maritime industry,” Henrik Dahl, CEO and Co-founder of Eniram, said in the statement.
The 2005-founded startup has raised $7.4 million over the years from Conor Venture Partners and others.
“Eniram has world-class analytics capabilities, and by joining forces we can provide our customers an unbeatable offering on both the vessel and fleet level,” said Pierpaolo Barbone, President of Wärtsilä Services. “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.”