|Events after the balance sheet date|
|On 19 March 2018, Wärtsilä signed an agreement to acquire Transas, a global company headquartered in the U.K. Transas is a global market leader in marine navigation solutions that include complete bridge systems, digital products and electronic charts. The company is also a leader in professional training and simulation services, ship traffic control, as well as monitoring, and support.|
Transas’ current annual net sales are in the region of EUR 140 million. The company has 22 regional offices worldwide and a distribution network that spans 120 countries. It has a workforce of approximately 1,000 employees who will be integrated within Wärtsilä’s market area Marine Solutions.
This acquisition takes Wärtsilä a significant step closer to achieving its mission of enabling sustainable societies with smart technologies. It will also speed delivery on the company’s promise to disrupt the industry by establishing an ecosystem that is digitally connected across the entire supply chain, through applications that are secure, smart and cloud-based.
|The transaction is valued at EUR 210 million (enterprise value) and is expected to be closed during the second quarter of 2018.|