Vard Holdings Limited (VARD) has acquired ICD Software, a provider of automation and control system software for the offshore and marine sectors, via its subsidiary Seaonics.

Key highlights:

· Through the acquisition of ICD Software, Seaonics is able to expand its business in deck handling equipment and automation technology

· More importantly, ICD Software is expected to be an important contributor to the development of new products for Seaonics and other companies under the umbrella of the VARD group, due to its leading know-how and expertise in automation and drive systems

· The new enlarged Seaonics will be able to develop and deliver significant parts of the equipment for drilling vessels, including automation systems for cranes, winches and other deck handling equipment

VARD Executive Vice President for Equipment and Solutions and Chairman of Seaonics, Mr Stig Bjørkedal, said, “This acquisition is a catalyst for growth and development of Seaonics, and an important step for VARD in strengthening our equipment and solutions portfolio. The integration of in-house developed automation and control system software enables us to offer a complete complex product delivery to the customer.”

Tags: Vard Holdings Limited (VARD)