Teledyne acquires marine navigation specialist

American digital imaging provider Teledyne Technologies has acquired the digital marine navigation specialist ChartWorld International Limited and its affiliates. Terms of the transactions were not disclosed.

ChartWorld, headquartered in Cyprus, with additional locations in Hamburg, Singapore, Vancouver and Tokyo, is a leading provider of digital marine navigation hardware and software provided through a subscription-based model.

“ChartWorld’s maritime navigation software and hardware tools bridge a product and technology gap between our Teledyne Marine and Raymarine businesses,” says Robert Mehrabian, Teledyne‘s chairman, president and chief executive. “Furthermore, the acquisition adds to our software capabilities and recurring revenue, while expanding our customer base to include commercial Safety of Life at Sea (SOLAS) class vessels and their commercial fleet operators. We are pleased to have now completed our second acquisition for the Teledyne FLIR and Raymarine organisations in the last six months.”

Commercial maritime subscribers to ChartWorld’s software as a service (SaaS) receive free type-approved Electronic Chart Display and Information Systems (ECDIS), and global 24/7 support. ChartWorld also provides digital Electronic Navigational Charts (ENCs) and other geospatial software and services, including digital route appraisal and voyage planning, as well as onshore software for fleet monitoring and risk assessment.

ChartWorld affiliate, SevenCs, continues to provide ENC production and distribution software, as well as software development kits for displaying electronic nautical charts in accordance with maritime standards to other navigation system OEMs.