Leading Maritime e-procurement platform acquired by Marcura Group
ShipServ, the leading maritime e-procurement platform, announced today that it has been acquired by The Marcura Group, a portfolio of companies providing business solutions to the global maritime industry.
The deal, which is subject to regulatory approval, will create a powerful combination of technology and data to enhance the efficiency and transparency of maritime procurement.
ShipServ was founded in 1999 and has grown to become the world's largest e-marketplace for the marine industry, connecting buyers and suppliers across one hundred countries and handling over $4 billion worth of annual trade.
The Marcura Group is a Dubai-based group of companies that specialize in providing innovative and compliant solutions for the maritime sector, such as port cost management, sanctions screening, invoice processing, and market intelligence.
The Marcura Group's vision is to be the trusted partner for the maritime industry, delivering value through technology, data, and compliance.
By joining forces, ShipServ and The Marcura Group will leverage their complementary strengths and capabilities to create a more comprehensive and integrated platform for maritime procurement.
The acquisition will enable ShipServ to accelerate its product development and innovation, expand its global reach and customer base, and benefit from The Marcura Group's expertise in data quality and compliance.
The Marcura Group will also gain access to ShipServ's extensive network of over 70,000 suppliers and two hundred ship owners and managers, as well as its rich data on maritime spend and supplier performance.
Both companies share a common vision of transforming the maritime industry through digitalization and data-driven decision making. They are also committed to maintaining the highest standards of governance, compliance, and customer service.
The existing management teams of both companies will continue to lead their respective businesses, while working closely together to identify and realize synergies and growth opportunities.
The deal is expected to be completed in the last quarter of 2023, subject to regulatory approvals. The financial terms of the deal were undisclosed.