(Oslo, Norway ,15 December 2022 )Arribatec Group ASA (OSE:ARR,Arribatec ) today announces an agreement to divest Arribatec Marine's non-core software solution, Performance, to Oceanly S.r.l. a company 100% controlled byESA Group , aGenoa -based ship management company. "We are divesting Arribatec Marine's Performance activities to entirely focus their resources and market activities on Marine's leading Infoship software, which supports the digitalization transition of the technical operations management in the Maritime industry. This transaction marks the completion of the restructuring process of Arribatec Marine, and the company today has a solid platform to leverage on the growing demand for digital fleet management, " saysGeir Johansen , CEO ofArribatec . Arribatec Marine, a 100% controlled entity ofArribatec Group ASA , today completed the sale of the IP rights for the software package, Performance, a dedicated solution for vessel performance monitoring and voyage management. The transaction also includes the transfer of existing customer contracts and a team of eleven employees toESA Group . The transaction has a gross value ofEUR 0,9 million . "The divestment meets Arribatec Marine's intention of restructuring our organization around our native core business: the development of the asset management operating software Infoship, which comprises tailored solutions for the maintenance, procurement, safety, and quality compliance of all the assets onboard any kind of vessel. The divestment of Performance concludesArribatec Marine's transformation, allowing us to invest in profitable growth in our most attractive segments, cargo and cruise,"Agostino Fiorentino , CEO ofArribatec Marine, concludes. ENDS For additional information, please contact:Geir Johansen , CEO,Arribatec Group ASA : +47 4771 0451 About Arribatec Marine| www.arribatec.com/marine Specialized in providing technology and professional services to support the digitalization transition in the maritime industry, Arribatec Marine is focused on maximizing return on assets' performance, increasing control over operations, and helping clients improve their value and obtain a competitive advantage through their InfoSHIP® software. InfoSHIP® enables a high level of fleet control and efficiency for a broad range of technical processes. InfoSHIP® supports companies in a real step-up in marine operations, bringing ship owners to a different level of control of their vessels with functions designed to cope with their specific market requirements. AboutArribatec | www.arribatec.comArribatec is a software and consulting company headquartered inOslo . With a customer-centric engagement model, combined with a deep system, integration, and domain competence,Arribatec builds long-term strategic partnerships with a broad customer base.Arribatec serves more than 1200 large entities spread over 25 countries and various industries in the private and public sectors. The company employs over 450 people with offices in 17 countries and is listed on theOslo Stock Exchange under the ticker code ARR.
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