Lloyd’s Register acquires maritime startup Ocean Technologies

Professional services firm Lloyd’s Register Group has acquired maritime tech company Ocean Technologies Group for an undisclosed fee.

Ocean Technologies Group, founded in Norway, provides training, compliance, operational and HR software to ship owners and operators worldwide.

Lloyd’s Register Group acquired the company from London-based private equity firm Oakley Capital.

Following the acquisition, Lloyd’s – which provides professional services in the maritime sector including ship classification – will offer Ocean Technologies Group’s software solutions to the more than 30,000 vessels in its fleet.

“This is a really transformative acquisition for LR and our clients and reinforces our focus on maritime. For over 260 years we have provided trusted advice on the safety and performance of assets and vessels,” said Lloyd’s Register Group CEO Nick Brown.

In 2022, Lloyd’s Register Group acquired OneOcean, a supplier of voyage compliance, safety and environmental technology.

“Becoming a part of Lloyd’s Register is a great opportunity to further extend our global leadership in maritime which we have built with the support of Oakley,” said Ocean Technologies Group CEO Thomas Zanzinger.

“It allows us to rapidly expand our capabilities within an organisation that aligns perfectly with our mission, vision and values as we support our industry towards a digital and sustainable future.”

Founded in 1760, Lloyd’s Register Group is wholly owned by the Lloyd’s Register Foundation, a British science and engineering charity.

The group is not affiliated with insurance giant Lloyd’s of London, however, its name is similarly derived from Lloyd’s Coffee House.