Tue Sep 10 16:07:00 UTC 2024: ## Lloyd’s Register Acquires Ocean Technologies Group to Boost Maritime Digital Transformation

**LONDON, UK** – Lloyd’s Register (LR), a leading global provider of maritime professional services and digital solutions, has announced the acquisition of Ocean Technologies Group (OTG) from private equity firm Oakley Capital. This strategic move aims to strengthen LR’s position in the rapidly evolving digital landscape of the maritime industry.

OTG, specializing in critical training, compliance, operational, and HR software, serves over 1,000 shipowners and operators and a million seafarers globally. LR will now integrate OTG’s solutions across its vast network of over 30,000 vessels, creating a comprehensive digital platform.

This acquisition follows LR’s previous investments in maritime digital solutions, including the acquisition of OneOcean in 2022 and a joint venture with the International Chamber of Shipping (ICS) in ISF Watchkeeper in 2023.

The move is particularly timely as the International Maritime Organization (IMO) has set ambitious goals for the maritime industry to reach net-zero greenhouse gas emissions by 2050, requiring a major shift toward alternative fuels and technologies. This transition necessitates extensive training for seafarers, and OTG’s expertise will be crucial in this regard.

LR aims to combine OTG with its fast-growing LR OneOcean platform, creating a powerful maritime software ecosystem. Nick Brown, CEO of Lloyd’s Register, emphasized the transformative nature of the acquisition, stating it reinforces LR’s focus on maritime, enabling them to offer a complete end-to-end energy transition solution for clients.

Thomas Zanzinger, CEO of OTG, expressed enthusiasm about joining LR, highlighting the alignment of both companies’ missions and values in supporting a digital and sustainable future for the maritime industry.

Peter Dubens, co-founder and managing partner of Oakley Capital, praised the partnership, highlighting the growth potential for OTG as part of LR and emphasizing Oakley’s track record in the SaaS space.

The acquisition, subject to regulatory approvals, is expected to be finalized in the fourth quarter of 2024. This strategic move by LR signals a significant investment in the digital future of the maritime industry, offering comprehensive solutions to clients and supporting the global transition towards sustainable shipping.

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