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Wartsila recently signed an agreement to acquire Eniram, a fellow Finland-based technology company which provides the marine industry with fuel management and analytics solutions.

The acquisition of Eniram will enable Wartsila to grow and strengthen its digital offering and in-house capabilities, specifically in data analytics, modelling and performance optimisation.

"Through this acquisition Wartsila takes a solid lead in marine digitalisation. Going digital plays a strong role in our strategy and supports our aim to make both Wartsila and our customers more competitive," said Jaakko Eskola, President and CEO, Wartsila Corporation. "Digitalisation offers significant growth potential for our customers and for Wartsila."

Established in 2005, Helsinki-headquartered Eniram provides energy management technology to reduce fuel consumption and emissions. Its solutions, which are installed in over 270 vessels, range from single onboard applications for trim, speed and engine optimisation to comprehensive fleet analysis. With branch offices in the UK, the USA, Germany and Singapore, the company employs 89 people worldwide and in 2015 its turnover exceeded EUR 10 million.

Eniram will initially continue as an independent business entity supported by Wartsila's global capabilities.

Commenting on the EUR 43 million (enterprise value) transaction, Henrik Dahl, CEO and Co-founder of Eniram, remarked: "With the accelerating trend of digitalisation and connectivity, there is an enormous amount of innovation happening across the maritime industry. Wärtsilä's leading market position coupled with Eniram’s cutting-edge technology forms an unbeatable combination in the marine digitalisation space."

Ownership of Eniram was transferred to Wartsila with effect from 1st July 2016.