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LR Adds to Digital Portfolio With Acquisition of OneOcean

LR
Martin Taylor, CEO of OneOcean (left) and LR Group CEO Nick Brown

Published Jun 20, 2022 11:19 PM by The Maritime Executive

Lloyd's Register has reached an agreement to acquire OneOcean, a leading maker of software for shipboard operations and shipmanagement.

OneOcean was created by the merger of ChartCo and Marine Press in 2019. Under the management of private equity firm Equistone, OneOcean has evolved rapidly: in the past three years it has undergone four acquisitions, two divestments and a merger. It has also transitioned its business from physical product distribution to digital software solutions, and its systems can now be found aboard 16,000 vessels worldwide. Its solutions cover environmental performance, digital logs, charts and publications, voyage planning and more.

OneOcean's portfolio adds to LR's considerable existing lineup in maritime software and tech consultancy services, including Hanseaticsoft (for fleet management), i4 Insight (for analytics) and C-MAP Commercial (for navigation and shipboard operations). 

"We recognize that there has never been a more pressing need for specialist maritime advisers to guide and support clients through the fundamental changes they face, helping to define the route to compliance, operational efficiency, sustainability and competitive agility," said Nick Brown, CEO of LR Group. "The acquisition of OneOcean propels LR to the position of a leading digital player in the maritime industry."

The acquisition bolsters LR's presence in a competitive field for digital services. In addition to overlapping product lines from vendors like StormGeo and Kongsberg, other IACS class societies offer similar digital solutions and consulting services, like DNV's ShipManager platform and ABS' Nautical Systems division.