London-listed Israeli predictive maritime intelligence firm Windward is set to be acquired by US investment firm FTV Capital in a deal valued at £216m ($270m) million.
Windward will be bought out by Octopus UK Bidco, a subsidiary of FTV Capital’s investment fund at 215p per share, a 47% premium on Windward’s last closing price.
The tech firm, which developed a platform for forecasting and generating insights for the maritime trade industry and insurance companies, was founded in 2011 by Ami Daniel and Matan Peled.
Chaired by ex-BP chief Lord John Browne, Windward floated in London in 2021.
“This marks an exciting next step in the evolution of Windward, providing the opportunity to build upon our first mover advantage in maritime generative AI through accelerated innovation and greater market reach. We are incredibly proud of the growth we have achieved while on the AIM market, and our ability to adapt and incorporate evolving technology, specifically generative AI, said Windward chief executive Daniel,m adding that being US-owned is expected to facilitate expedited penetration and growth in the US market.
The acquisition should be completed by the end of the first quarter of 2025, subject to Windward shareholder approval. FTV Capital said it has already received irrevocable undertakings to vote in favour of the acquisition from holders of about 63% of Windward shares in aggregate.
