- AWT Shares Acquired by StormGeo
Applied Weather Technology Shares Acquired by StormGeo
January 28, 2014 – Applied Weather Technology, Inc. (AWT,) is pleased to announce the conclusion of an agreement with weather specialist company StormGeo under which the full shareholders stock in the company has been acquired by Norwegian based StormGeo A/S.
Following the acquisition, AWT will continue to deliver its range of ship route advisory services and maritime weather and decision support software products under the AWT brand name to ship owners and operators worldwide.
AWT Chairman and founding owner Jung Soo Kang describes the deal as a “friendly acquisition that is in the interests of both companies, their employees and customers.”
The two companies have complementary strengths. StormGeo is very strong in the offshore oil and gas sector, and AWT is a brand leader in routing and weather based decision support services for commercial shipping. The combined group expects to gain technical and data synergy advantages from the merger that will benefit the full range of maritime customer market sectors.
The combined StormGeo Group will operate out of 22 offices in 14 countries with more than 320 employees. AWT is a StormGeo company.