StormGeo estimates it has helped reduce its customers' fuel consumption by a total of 2.1 million mt since 2018. Image Credit: Alfa Laval
Engineering company Alfa Laval has acquired weather intelligence software firm StormGeo.
The acquisition cost Alfa Laval 3.360 million Norwegian krone ($442,568) in debt and cash, the company said in an emailed statement on Monday. The deal is expected to close by the end of June, with StormGeo joining 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 decarbonization challenge in the industry," Tom Erixon, CEO of Alfa Laval, said in the statement.
"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."
StormGeo estimates it has helped reduce its customers' fuel consumption by a total of 2.1 million mt since 2018.