Cargotec to acquire Navis

Cargotec to acquire Navis    Cargotec, a manufacturer of cargo terminal handling equipment, has entered into an agreement to buy terminal systems provider Navis from Zebra Technologies Corp.
   The transaction is valued at about $190 million.
   “Navis solutions are a core component of a terminal operator’s business,' said Mikael M'kinen, Cargotec's president and chief executive officer, in a statement. 'By adding Navis to our portfolio, we will be able to offer total solutions for terminals.'
   Navis’ software is used globally by marine terminals, rail yard operations and distribution centers. Navis systems help customers coordinate and automate the movement of containers and equipment in terminal and yard environments, as well as enable them to manage the operations of either a single terminal or multiple terminals in different geographic locations from a central point.
   Marine container terminals are Navis’ core market. The Oakland, Calif.-based company's software is used in more than 50 countries. Navis has more than 300 employees, mostly located in the United States and India. Its sales are expected to be about $70 million in 2011, with around 40 percent recurring sales.
   According to Cargotec, Navis will continue its business with its customers as an independent operator. Navis’ reporting will be consolidated into Cargotec’s financial reporting once the transaction has been completed.
   The acquisition is subject to regulatory approvals from competition authorities, which are expected to be received during the first quarter of 2011, Cargotec said.