In response to the evolving needs of the shipping industry and the impact of digitization on the industry, Veson Nautical, a leading provider of shipping software, has acquired the Q88, a shipping information management software platform and software platform. According to the companies, the acquisition combines their ability to serve the maritime technology sector and help continue to develop the core platform that drives maritime trade.
Veson, which develops, implements and supports global maritime trade solutions, will combine its offering with Q88, a provider of maritime SaaS technologies and products that simplify the complexity of global shipping. The acquisition will provide Veson clients with an additional software suite, the opportunity to take advantage of a standardized approach to ship detail management, and the ability to use Q88 products to provide additional connectivity while managing maritime ecosystem decision-making. Venison also plans to grow the Q88 product line rapidly as these solutions become more integrated with the Veson platform and current product offerings. “We look forward to combining our solutions with Q88 products and many sources of expertise,” said John Veson, co-founder and CEO of Veson Nautical. “This acquisition further strengthens our ambitions and is a natural next step on Veson’s path to becoming a standard platform that drives maritime business. It will not only benefit our connected customer base, but also enable it. In the maritime sector, gain a new position in digital travel .
Founded in 2001, Q88 has been building digital solutions for the maritime freight industry for 20 years. The company offers a suite of software and data products designed to streamline operational workflows, build a source of data facts, improve data accuracy and relevance, facilitate communication, and improve security performance across multiple shipping counterparts. Q88 has developed into the tanker sector and recently invested in the development of solutions for the space for the transport of dry bulk materials and other sectors in the shipping industry. “Veson’s product knowledge and offerings are our perfect balance, and this agreement gives Q88 and the industry the strength for continuous innovation and future success,” said Fritz Heidenreich, Founder and CEO of Q88.
The acquisition of Q88 follows the significant capital investments of global investment firms Francisco Partners and Pamlico Capital in Veson announced in March 2022. This investment lays the foundation for Veson to continue its growth strategy and continue to innovate in its product.