JANUARY 24, 2024 – DTN has entered into an agreement to divest the shipping business of DTN Europe BV and DTN Philippines Inc. (hereinafter DTN Shipping) to ABB, a technology leader in electrification and automation. The ABB acquisition covers the DTN Shipping portfolio of vessel routing software, including analytics, reporting, and modelling applications. DTN Marine Weather Data is not included in the acquisition and will continue to power the divested solutions following the close of the transaction.
“We are incredibly proud of what the shipping team has accomplished at DTN and are confident that the industry will see immense value from the expanded ABB digital offerings that will become possible when combined with the DTN Shipping portfolio,” said Marc Chesover, President and CEO of DTN.
ABB and DTN Shipping will work together to ensure continuous customer service and the seamless integration of approximately 85 DTN Shipping employees, most of whom are located in the Netherlands and Philippines, into ABB.
Financial details of the transaction were not disclosed. The transaction is subject to customary closing conditions as well as completion of applicable works councils’ consultation procedures. It is expected to close during Q2 2024.