Bluefront Equity-owned Naviaq, Seacloud merging

Digital seafood software companies Naviaq and Seacloud – both owned by private equity firm Bluefront Equity – are merging.

Bluefront Equity acquired a majority stake in Seacloud – a provider of cloud-based software and sensor technology for aquaculture operators – in December 2022. The firm’s investment in Seacloud came shortly after Bluefront Equity invested in aquaculture software firm Naviaq in October 2022.

Now, the two companies are merging and will offer a wider suite of digital solutions for the aquaculture industry, Bluefront Equity said. The merger, it said, will allow the companies to combine environmental and operational data from Seacloud’s sensors with the equipment overview and management software from Naviaq.

“Put simply, Seacloud delivers sensors and software that describe the fish’s status, while Naviaq’s solutions gives an overview of equipment, operations and logistics,” Seacloud Managing Director Jens-Harald Jenssen said in a release. “Both systems aggregate data and convert it to meaningful information that allows the user to make well-informed operational decisions. By combining data from the two companies products and databases, we can further simplify fish farmers’ operations through presenting data via the same interface.”

The result, Naviaq Managing Director Lisbeth Plassen said, is a single set of software that can offer a more holistic product that increases cost efficiency.

“Moreover, our colleagues will benefit from combining two highly competent teams that can develop even better software systems and help create more new jobs,” Plassen said.

According to Bluefront Equity, the companies will merge offices in Trondheim, Norway – the location of Naviaq’s headquarters and one of Seacloud’s secondary offices. Naviaq’s other office in Namsos, and Seacloud's head office in Alta and secondary office in Tromsø will remain unchanged.

“Our ambition is to continue creating new jobs in Alta, Trondheim, Namsos, and Tromsø. All offices have important roles for us going forward,” Plassen said.

Bluefront Equity added that the combined companies will operate under their current brand names until “further notice.”

“Prior to investing in companies, we always consider which structural measures are available that can unlock powerful business combinations and add value to the aquaculture industry,” Bluefront Equity Partner Kjetil Haga said. “Combining Naviaq and Seacloud is a no-brainer as their technologies and customer offerings are highly complementary.”

Bluefront Equity has invested in a number of seafood and aquaculture-based companies, including Akvasafe, refrigerate tech firm Proof Kulde, and the AquaBioTech Group.   

Photo courtesy of Bluefront Equity