Star Information Systems (SIS) and StormGeo have signed an agreement to work together to develop a range of innovative software solutions for the offshore and shipping industries
StormGeo has also taken a 15 per cent stake in SIS – with an option to increase this in the future – which will provide SIS with valuable funding to continue its global expansion activities.
Erik Langaker, chairman of StormGeo, has also become non-executive chairman of SIS.
SIS provides software systems for maintenance, safety management, purchasing and logistics within both shipping and offshore, while StormGeo provides meteorological decision systems to the offshore industry and is also experiencing rapid growth in the more traditional shipping sector.
Both companies believe that they will be able to offer operators of ships, rigs and offshore supply vessels unique benefits in terms of safety, performance and cost savings and improve risk management.
SIS and StormGeo said that they hope to release their first jointly-produced product within the next twelve months.
“For some time we have been searching for a partner that can help us to both develop our international presence and expand our product portfolio,” said Per Anders Koien, chief executive officer of Star Information Systems.
“In StormGeo we found potential synergies in products, technology, organisation, customers and geographical locations.”
Detailed meteorological information and decision systems already provide the shipping and offshore industries with crucial tools to safeguard people and equipment while operating in harsh conditions.
SIS and StormGeo believe that his data becomes even more powerful when it is combined with operational data – from engine management to handling events and initiating safety measures.
“We see that our customers are facing new and more demanding requirements for safe operation from the authorities and their own customers,” said Koien.
“We also see that their activity is increasing in more demanding locations, such as in arctic areas.
“By combine machinery and operational performance information with weather forecasting we can help our customers to build a safer and more cost-efficient operation.”
Langaker said, “We recognised that there could be an opportunity for StormGeo to integrate other software suppliers’ asset data with our more traditional meteorological forecasting and risk assessment models.
“The ultimate goal of our new relationship with SIS is to provide customers with an optimum decision platform for safe journeys and minimum fuel consumption.
“We hope to be able to take ‘optimal voyage planning’ to a new and more sophisticated level – both on an individual vessel basis, as well as for large fleets servicing offshore and shipping segments.”
By joining forces with StormGeo, SIS will be able to take advantage of its office locations around the world, particularly in Houston and Dubai, to better serve its markets.
StormGeo will benefit from access to SIS’ sites and network of agents worldwide.
It will also be able to benefit from the SIS customer base of more than 1,500 ships, as well as over 150 offshore units operating around the world.
Both companies will also be able to take advantage of each others’ highly skilled and knowledgeable software engineers who all have a deep insight into the requirements of the shipping and offshore markets.
