Pole Star Global, a data insights and intelligence tech provider, has acquired StratumFive, another maritime tech software provider.
Pole Star said the takeover deal was a “natural progression”, bringing two maritime tech companies together under one umbrella.
StratumFive’s Podium5 product is key to the decision to acquire. The “award-winning voyage informatics platform” will aid Pole Star’s existing tracking, compliance and route optimisation tech.
“The Podium5 platform leverages the previously acquired FleetWeather capability, with a proven track record of enhancing vessel performance and safety through advanced model-based route optimisation,” according to Pole Star.
As well as augmenting Pole Star’s existing products, the acquisition will advance the company's work on emissions tracking and planning.
Pole Star CEO Bob Skea said: "By joining forces, we are reaffirming our commitment to innovation for our customers. The Podium5 platform not only enhances our capabilities in vital voyage analytics but also accelerates our efforts with vessel emissions transparency and planning, which is critical as we enable trusted partners throughout the maritime network.”
StratumFive’s founder Stuart Nicols and current CEO Ross Martin will both join the Pole Star Global company in newly created positions to “ensure continuity for customers and partners”. It is not clear how long Nicols and Martin expect to fulfil those roles.
Nicolls said: “This partnership will allow us to accelerate the development of innovative solutions that will further transform the maritime industry. Together, we will continue to provide our customers with the best-in-class services and support they expect."
Martin added: “Our outreach to the sector throughout Podium’s development has shown that it is a game-changer for decision-making. We are extremely excited to be working with Pole Star to drive digital prosperity across our industry.”
