Nekkar has entered into an agreement to acquire the majority of the fast-growing and profitable maritime connectivity and digital service provider Globetech.

“Globetech fits perfectly within Nekkar. Both companies operate in the maritime and offshore industries, both use digitalization and software as key enablers to achieve a higher proportion of recurring revenue, both deliver solid EBITDA margins, and there are strong synergies between Nekkar’s portfolio companies and Globetech. In sum, Globetech will constitute a new solid platform for us, and we are delighted to welcome them into the Nekkar family,” says Ole Falk Hansen, CEO of Nekkar ASA.

Globetech provides ICT (information and communication technology) infrastructure, connectivity and support services to the global maritime sector. The company offers complete solutions for onboard network infrastructure including hardware, tailored solution architecture and system integration for satellite communications, and develops software and customized ICT solutions that focuses on cybersecurity to ensure secure and continuous operations.

The company was founded in 2011 and is headquartered in Kristiansand, Norway, where Nekkar ASA and several of its portfolio companies are located. Globetech currently employs 28 IT and digitalization specialists. The company’s founders and key management will remain with the company and are incentivized to further improve its growth and profitability.

Globetech’s customers include ship owners and ship management companies within the shipping and offshore industries. More than 150 vessels are currently being served by Globetech, including tankers, offshore supply vessels, anchor-handling tug supply vessels and others.

“We believe Nekkar is the ideal partner to support the continued growth of Globetech,” says Hans Eirik Onarheim, Managing Director and co-founder of Globetech. “We are confident that this partnership will provide us with the resources and support needed to further develop our offerings and achieve our long-term goals.”

Globetech has a track record of profitable growth, reflecting its business model where approximately half of the company’s revenue are repeat business, including a high proportion of recurring license fees from its customer fleet of approximately 150 vessels.

Globetech will become a new stand-alone platform company within Nekkar. Globetech as a platform will complement the Nekkar portfolio with a high proportion of repeat business and recurring revenues.

Nekkar ASA has entered into a two-stage transaction with the founders of Globetech which by 2027 secures 100 percent ownership of Globetech. In the first stage, Nekkar acquires 67 percent ownership of Globetech. Globetech’s enterprise value is at signing estimated to NOK 120 million on a 100 percent basis. In 2027, Nekkar will acquire the remaining 33 percent of outstanding shares in Globetech.