Port-IT, a leading provider of IT services and cybersecurity solutions for the maritime sector, joins Marlink Group, a leading provider of remote ICT solutions and managed services. Hogenhouck M&A advised Port-IT on this transaction.
Port-IT specializes in cybersecurity and connectivity solutions for the maritime sector. The company focuses on protecting ships, crews, and cargo from digital threats, ensuring that everything continues to operate safely and without interruption, even as cyber risks increase. Its Rhoon location is strategically situated, giving Port-IT easy access to the major ports of Amsterdam, Rotterdam, and Antwerp. From their Security Operations Centers (SOCs) in Rhoon and Bangkok, they provide 24/7 support to a customer base of 7,000 ships. Through their focus on innovation, they offer state-of-the-art solutions that set the new standard for maritime cybersecurity for ships.
Global reach
Port-IT has decided to join the Marlink Group, which places the interests of its customers at the center of its operations. Through this strategic partnership, Port-IT’s customers will benefit from the extensive expertise of a market leader in managed ICT services within the global shipping industry. Port-IT will become part of Marlink’s cybersecurity division, gaining access to a broader network and enhanced support. This will enable the company to further realize its growth potential and continue developing innovative solutions for maritime cybersecurity.
Youri Hart, CEO of Port-IT, on the partnership: “Joining the Marlink Group offers Port-IT’s customers excellent opportunities to benefit from the scale and influence of a market leader in managed ICT services for the global shipping industry. The experience and expertise that Port-IT brings will support Marlink Group’s strategy and help shipowners navigate an increasingly challenging cybersecurity landscape.”
A New Step in Cybersecurity
This acquisition strengthens Marlink’s existing capabilities and complements the cybersecurity services of Diverto, which was also recently added to the Marlink Group. Marlink will create a dedicated cybersecurity unit by combining the capabilities of Port-IT, Diverto, and its own cybersecurity operations. This new unit, with 130 experts and four Security Operations Centers in Europe, Asia, and the Americas, enables Marlink to offer its customers the highest possible protection against digital threats. With annual revenue exceeding $800 million and 1,500 employees in more than 30 countries, Marlink provides solutions for companies operating in challenging environments, such as merchant ships and offshore energy operations.
Erik Ceuppens, CEO of Marlink Group, says: “We warmly welcome Port-IT and its expert staff to the Marlink Group. The demand for expertise and resources to meet the growing IT and OT cybersecurity needs of our global customers is rising rapidly. The acquisition of Port-IT aligns perfectly with our ambition to position ourselves as a trusted cybersecurity partner for customers in remote areas, just as we are already a trusted partner for next-generation managed communications networks. The combined capabilities of the Port-IT, Diverto, and Marlink teams form a first-class portfolio of services, solutions, and support to help our customers withstand the growing cybersecurity threats.”
The M&A process
The Hogenhouck M&A team that assisted Port-IT in this M&A process consisted of Hein Stoops, Thijs Piso, and Amber Teunissen. Hein Stoops on the sale process with Port-IT: “Port-IT is the market leader in cybersecurity solutions in the maritime sector, which is very interesting for Marlink. Adding this expertise to their service portfolio fits perfectly with their strategic vision of transitioning from a network and connectivity provider to a leading managed security player. Bringing together a large, private-equity-owned corporation like Marlink with a niche player like Port-IT presented complex challenges in terms of stakeholder management and deal structure. Thanks to close collaboration with Port-IT’s management team, Hogenhouck M&A was able to steer this challenging process successfully and achieve a result that both creates value for Port-IT and supports Marlink’s growth strategy.’
Youri Hart, CEO of Port-IT, on the sales process: “We found working with the team at Hogenhouck M&A to be a very positive experience. Communication was clear, and additional explanations were provided when necessary. As the selling party, we don’t sell a company every day, so issues arose that we hadn’t considered beforehand. In such an intensive process, a steep learning curve is inevitable, and that’s when good guidance is crucial. The professional guidance provided by Hogenhouck M&A was an excellent help to us in that regard.”
This transaction demonstrates how Hogenhouck M&A was able to contribute to a complex international acquisition process through careful guidance and strategic advice.
