Finnish maritime telecommunications services and product supplier Pentonet has made an announcement on the acquisition of On-Waves, shipping GSM provider, a subsidiary of Siminn (formerly known as Iceland Telecom).
According to the statement, Pentonet has acuqired the commercial fleet services, customer accounts, assets, and business from On-Waves. The acquisition is specifically for services provided to Commercial ships and pre-paid services to the crew of these vessels. This acquisition further extends Pentonet’s current service fleet as well as adding enhanced services and product offerings to the existing On-Waves serviced vessels.
Former CEO of On-Waves, Kristinn Ingi Larusson said:
“I am delighted to see this transaction complete, as it will benefit all parties both in the short and long term. The additional services that Pentonet have in their product portfolio will be of real benefit to the On-Waves customers”.
As part of this acquisition, Larusson will take up a position on the Pentonet Board bringing his experience to bear to help drive the business forward.
CEO & Founder of Pentonet, Darryn Trowell added:
“The cooperation between On-Waves and Pentonet has been ongoing for a year or more and now is the right time to bring things together on a formal basis so that we may offer extended services and functionality to the former On-Waves customers”.