Navico bids for C-Map cartography

In the first of many probable rationalisations in the diverse marine-electronics' market, Digital Marine Solutions announced on Wednesday, March 16, that it has signed a purchasing agreement to acquire the marine division of Jeppesen, which produces the popular C-MAP cartography.

C-MAP's cartography is used by B&G, Lowrance, Simrad, Raymarine, Furuno, Humminbird and others. The takeover is subject to regulatory approval.

Under the terms of the agreement, the former Jeppesen Marine will operate as a separate entity with its own dedicated resources and will trade under the C-MAP brand name. The balance of Jeppesen will remain under the umbrella of The Boeing Company.

Digital Marine Solutions is owned by the Altor 2003 Fund, which is part of the Nordic-based Altor family of private equity funds.

This strategic acquisition leverages Altor’s experience in the marine industry, where it also is the majority owner of the Navico house of marine brands including B&G, Lowrance and Simrad.

Digital Marine Solutions says it will ensure that Navico and other third party electronic manufacturers, including rivals like Raymarine, continue to have access to the C-MAP portfolio for both recreational and commercial marine.

As far as we can ascertain, the move will create a two-horse race and leave Garmin, which has a massive global presence in non-marine and marine electronics, promoting its proprietary cartography in the face of a bigger rival.

Digital Marine Solutions says it intends to develop C-MAP’s capabilities and sales by offering enhanced charting, digital content, and services solutions.

"Jeppesen Marine is one of the premier players in electronic charting and value-added services for recreational and commercial marine," said Leif Ottosson, future chairman of the buyer Digital Marine Solutions.

"We look forward to working with the Jeppesen Marine team to create fresh innovations and to continue to work with Jeppesen Marine’s existing customers to further grow the business."

James Detar, Director Light Marine Portfolio at Jeppesen Marine, said: "This is good news for the marine electronics industry, Jeppesen Marine
staff and consumers, as C-MAP’s high-quality products and services will
continue to be offered, thus keeping the diversity in the market."

"We believe that with the vision and values of Digital Marine Solutions we can further improve our portfolio and better service our customers," added Egil Aarstad, Director Voyage Solutions at Jeppesen Marine.

Pending regulatory approval, the transaction is expected to be completed toward the end of the second quarter, 2016.

For information on Jeppesen Marine visit c-map.jeppesen.com and ww1.jeppesen.com/marine.