Posted on 24.03.2010 - 11:00 EDT in ACQUISITION/MERGER NEWS by Rons_ROV_Links
Software and services firm, Intelliscan, today announced that it has spun off its marine division into a new company called Pisys Marine Ltd. The two directors of Intelliscan, Jonathan Shapiro and Willie Smith, agreed on a ‘share swap' deal which has seen the company separated into two highly focused companies which will be independently run by each director allowing them to concentrate on their primary interests.
Jonathan Shapiro has become the majority shareholder of Pisys Marine in partnership with the Pisys Group whilst Willie Smith is now the sole shareholder of Intelliscan which will continue to focus on the telecommunications and utilities sectors. Pisys Marine will retain all the existing business of the former Intelliscan marine division serving over 300 customers in 25 countries.
The original marine team will remain intact in the new business entity which will be headquartered in Oldmeldrum. Pisys Marine will continue to develop and sell licences of its software which enables electronic versions of Admiralty Charts and other maritime data to be used inside standard desktop geographic information systems. Their main supplier, the United Kingdom Hydrographic Office (UKHO), which produces the Admiralty Charts that Pisys Marine digitalise to sell on to its customer base, has agreed to transfer the contracts of supply from Intelliscan to Pisys Marine.
Jonathan Shapiro, said: "This announcement is great news for Intelliscan's marine customer base as it will enable us, as Pisys Marine, to invest considerably in development and support allowing us to significantly expand our product portfolio and level of customer service. It also allows for an even more focused and strategic approach to addressing the needs of the marine industry which we are committed to doing. "I am excited by the opportunities ahead for Pisys Marine and I am delighted to be building the company further with the help of the Pisys Group with their internationally-renowned knowledge and expertise. It goes without saying that I am very proud of everything that Intelliscan has accomplished since its inception in 1994. I have no doubt, that under Willie's leadership, it will continue to serve the telecommunications and utilities industries with a first class offering."
Willie Smith said: "Both sides of the business had built up excellent customer bases respectively and the decision to split into two companies was the next logical step. The new structure gives Intelliscan the flexibility to concentrate on the development of more products that address the needs of our core markets in the telecommunications and utilities industries, whilst continuing to add value to our existing products. I feel enormously enthused about the prospects for Intelliscan and Pisys Marine and I'm sure both companies will have a great future." The deal comes almost a year after Pisys acquired Intelliscan's digital pen division to create Pisys Digial Ltd. Pisys has 22 years experience of developing and delivering software for a diverse range of commercial sectors, including the energy, education and health industries.
Pisys Group Director, Peter Henderson, said: "Intelliscan has become an established player in the marine industry and has worldwide proven experience in developing cutting-edge software products and services to the industry. Combining its capabilities in this area with those of Pisys creates a powerful new entity. "We will be supporting Pisys Marine by investing heavily in the development of new products and services to further enhance its offering to the marine industry."