Ocean Technologies Group

Sector

Technology

Fund

Fund IV

Year

2019

Location

Norway / UK

Status

Realised

Mission-critical software provider

Key facts

Serving

20k

installations

Customers

1.1m

seafarers served

Acquisitions

bolt-ons

Ocean Technologies Group began life as a business combination between two market-leaders providing e-learning to seafarers around the world. Through a series of acquisitions and investment in new products and services, Ocean has become the leading software provider to the maritime industry, and a small but vital cog in sea transport and global trade.

Our investment

Oakley first invested in the business in 2019 through the simultaneous acquisition and combination of two e-learning providers to the maritime industry, Seagull and Videotel, followed by a further five bolt-on acquisitions.

Combining the product development and technical resources of multiple companies allowed for greater investment in new content and technology, with the business now offering a range of software solutions that empower maritime professionals and help ship owners to better manage their assets.

Market dynamics

The digital transformation taking place in the shipping industry has offered a significant opportunity for Ocean to provide its customers with a significantly enhanced suite of products and services.

Ship managers are increasingly turning to SaaS solutions that they can integrate across their fleet to enable compliant and efficient performance from their workforce and the vessels they manage.

Diversifying the business

Under Oakley’s ownership, the Group has transformed from a single-product software at the time of acquisition, to a diversified software platform serving multiple needs of the maritime industry.