GTT Acquires Danelec for $219.7 Million
French gas containment specialist GTT is making waves in the maritime industry with its announcement of a $219.7 million acquisition of analytics firm Danelec from Verdane, a European private equity firm. This strategic move aims to enhance GTT’s position in vessel performance management. The deal is expected to close in the early part of the second half of 2025, marking a significant step in GTT’s growth trajectory.
Strategic Expansion into Vessel Performance Management
Danelec started its journey by focusing on the development of voyage data recorders (VDRs) and has since expanded its offerings to include a range of safety and performance software solutions. The company has been on a growth path, acquiring Nautilus Labs in 2023 and Norwegian firm KYMA in 2021. These acquisitions have positioned Danelec as a key player in maritime analytics, and now, under GTT’s umbrella, it aims to further solidify its market presence.
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Philippe Berterottière, chairman and CEO of GTT, expressed enthusiasm about the acquisition, stating, “With this transaction, GTT becomes the global leader in the high-growth segment of vessel performance management and positions itself as a leading player in the strategic VDR market.” This acquisition is expected to not only enhance GTT’s technological capabilities but also expand its service offerings, allowing for improved efficiency and safety in maritime operations.
As the maritime industry continues to evolve with technological advancements, GTT’s acquisition of Danelec signals a strong commitment to innovation and leadership in vessel performance management. The anticipated benefits of this acquisition will be closely monitored by industry stakeholders as GTT integrates Danelec’s expertise into its operations.
