GTT has inked an agreement with investment fund Verdane to acquire 100% of Danelec in a transaction with an enterprise value of EUR194 million ($219 million).

Over the last five years under the ownership of Verdane Danalec has grown its revenues by over 250% making a number of acquisitions in the digital performance space as well as its core VDR business.

“This acquisition fully aligns with our development strategy in the digital field and marks an important milestone for the Group. Danelec is a recognised player in the maritime digitalisation, with a strong reputation, a significant installed base, and high-quality management team,” said Philippe Berterottière, Chairman and Chief Executive Officer of GTT.

Casper Jansen, CEO of Danalec. said, “"Over the last few years, we’ve transformed Danelec into a performance-driven, digitally native platform that is trusted by thousands of vessels across the world. This transformation has been made possible by the dedication and collaboration of our incredible team. By joining GTT, we take a bold step forward – doubling down on our mission to lead the maritime industry into a smarter, safer, and more sustainable future."

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