Cargotec Corporation: Cargotec's Navis acquires Octopi, a terminal operating system for small container and mixed cargo terminals

CARGOTEC CORPORATION, PRESS RELEASE, 8 MARCH 2019 AT 08:30 AM (EET)

Navis, part of Cargotec, has acquired privately owned company Cetus Labs, Inc. in the US, a provider of a cloud-based terminal operating system (TOS) Octopi for small container and mixed cargo terminals. With the addition of Octopi to its software portfolio, Navis is better positioned to support thousands of smaller terminals around the world that are eager to modernise terminal operations, yet lack the technology infrastructure and technical expertise required to support a full-scale Navis N4 TOS deployment.

Launched in 2015, Octopi is a modern and lightweight, cloud-based TOS developed exclusively for small container and mixed cargo terminals. Currently in use at ten sites in seven countries, Octopi delivers a cost-effective and easy-to-use TOS solution that enables its customers to better manage their operations in vessel planning and yard management, track cargo and communicate electronically in real-time with their commercial ocean shipping partners.

"Our customers told us they need a lighter weight TOS solution to improve the planning and execution of operations for their smaller terminals, and to easily connect to the supply chain ecosystem. The demand for greater process standardisation, supply chain control and improved visibility of cargo flows are key focus areas for all our customers," said Benoit de la Tour, President, Navis.

"By joining forces with Octopi, Navis is answering the need to have more TOS options for both standalone small terminals, and those smaller or remote terminals that are part of a larger global terminal operator network. Offering a cloud-based TOS that is intuitive and quick to implement will enable us to serve an entirely new segment of the terminal market. We're eager about the opportunity for continued growth and innovation and are proud to welcome Octopi and its customers to the Navis family," continues Benoit de la Tour.

The acquisition does not have a significant impact on the Cargotec 2019 financials.

For more information, please contact:

Andy Barrons, Chief Strategy Officer, Navis, andy.barrons(at)navis.com

Pekka Rouhiainen, Director, Investor relations, Cargotec, pekka.rouhiainen(at)cargotec.com

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2018 totalled approximately EUR 3.3 billion and it employs around 12,000 people. www.cargotec.com

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Source: Cargotec Corporation via Globenewswire