Windward, a leader in maritime AI, becomes the latest tech firm to leave the London Stock Exchange following its acquisition by FTV Capital.
- The buyout deal is valued at £216 million, marking a 47% premium over Windward’s recent share price.
- This strategic move aims to facilitate Windward’s expansion efforts, particularly in the United States market.
- The agreement reflects the increasing necessity for advanced maritime intelligence in the face of global trade and regulatory complexities.
- Completion of the deal is anticipated by the first quarter of 2025, pending shareholder approval.
FTV Capital has strategically acquired Windward, a prominent maritime artificial intelligence firm, in a transaction valued at £216 million. This acquisition marks Windward’s exit from the London Stock Exchange, three years after its initial listing. The per-share offer of 47p represents a 47% premium compared to the previous day’s closing price, effectively doubling the firm’s twelve-month volume-weighted average closing price.
Windward’s decision to go private is driven by the need for future investments, which could impact short-term profitability but is aimed at establishing robust operational foundations for growth. These initiatives are particularly significant given the firm’s intention to bolster its presence in the US market, leveraging FTV’s investment and expertise.
Ami Daniel, CEO of Windward, expressed confidence in the acquisition, citing FTV Capital’s remarkable track record in scaling founder-led software enterprises globally. Daniel highlighted the enhanced capacity for value extraction from data and improved job security for employees as key benefits of the investment.
Brad Bernstein, managing partner at FTV, emphasised the critical demand for sophisticated maritime intelligence solutions amidst increasing global seaborne trade and tightening regulatory frameworks. Bernstein acknowledged Windward’s comprehensive AI-powered analytics platform, which spans multiple facets including risk, compliance, and trading, delivering significant value to its extensive client base.
The delisting from the London Stock Exchange is projected to conclude by the end of the first quarter in 2025, with a shareholder vote slated for early January. This move is set to pave the way for Windward’s ambitious growth objectives under the new ownership.
The acquisition of Windward by FTV Capital underscores the vital role of maritime AI in today’s complex global trade environment.
