Cargotec to Buy Navis for $190 Million

Finland-based Cargotec said it will acquire Navis from Zebra Technologies for about $190 million.

Cargotec markets cargo handling equipment under the Hiab, Kalmar and MacGregor brands. U.S.-based Navis’ terminal operating software is used at marine terminals, rail yards and distribution centers to automate cargo handling. The system allows customers to manage terminals in different places from a central location.

"This acquisition supports Cargotec's strategy to focus on customers and invest in attractive customer segments. Navis solutions are a core component of a terminal operator's business. By adding Navis to our portfolio, we will be able to offer total solutions for terminals,” said Mikael Mäkinen, Cargotec’s president and CEO.

By The Numbers: Container Rate Benchmark

"Cargotec provides us insight into world-class equipment that is used in all of our customer segments. Joining forces creates exciting possibilities to improve terminal operations," said Bill Walsh, senior vice president and general manager of Navis.

Marine container terminals are the core market of Navis, whose systems are used in more than 50 countries.

Navis was founded in 1988. The company is based in Oakland, Calif. It has more than 300 employees, mostly in the U.S., and said it expects sales this year to total about $79 million.

The companies said Navis will operate as an independent part of Cargotec after the acquisition. The deal is subject to regulatory approvals that Cargotec said it expects during the first quarter.

-- Contact Joseph Bonney at jbonney@joc.com.