Nordic private equity firm Reiten & Co. has acquired Silicon Valley, Calif.-based Applied Weather Technology (AWT) for an undisclosed price.
Reiten facilitated the deal through portfolio company StormGeo Group. AWT, a provider of maritime weather routing services, should significantly expand the footprint of StormGeo. The deal includes AWT’s software systems, which provides decision support to more than 5000 ships.
The combined company will consist of roughly 320 employees operating out of 22 offices in 14 countries, including the U.S. and the Asian markets.
Reiten is headquartered in Oslo, Norway. In 2012, the company
In May 2012, StormGeo made its first strategic move into the U.S. market when it acquired meteorology service ImpactWeather Inc. from Universal Weather and Aviation Inc., for an undisclosed price.