Shipnet

Background

Shipnet is one of the oldest and most progressive marine software companies in the world. Serving approximately 150 shipping customers globally, it is also among the most profitable. Founded in Norway in 1993, Shipnet was created by the shipping industry, for the shipping industry, and has grown into a global software and services business offering a comprehensive portfolio of solutions, including:

• Asset management
• Procurement management
• Supply chain management
• Safety management
• Finance systems

Shipnet’s employees (known internally as “Shipnetters”) are located across the globe, with teams based in North America, Singapore, Dubai, Norway, the UK, and Chennai.

The Omegro acquisition

Prior to joining Omegro, Shipnet was owned by Inchcape Shipping Services (ISS), a global port agency company focused on vessel services worldwide. When ISS leadership determined that a shipping ERP business no longer aligned with its long-term strategy, Shipnet’s senior management was tasked with finding a new owner who could invest in the future of the company.

Shipnet’s leadership team sought a partner with a strong understanding of software businesses -one that could help stabilize operations and enable sustainable growth. While Shipnet had a well-established brand, it needed support in product management and professional services to expand both its product portfolio and customer base.

The team was clear in its priorities: they did not want to sell to a private equity firm that might exit the business within a few years. They were looking for a long-term owner that understood both the marine industry and the realities of building and scaling software. With its deep presence in marine markets and a buy-and-hold-forever philosophy, Omegro emerged as the ideal partner.

“The whole buy-and-hold strategy was very important to Shipnet, because both their people and customers were very important. They needed stability, focus and discipline around their financial metrics, so the Omegro model suited them very well.” - Terje Kristiansen, CEO, Shipnet

Post-acquisition

Following the acquisition, Omegro introduced a dedicated integration team to support onboarding efforts and evaluate Shipnet’s processes and financial performance. Using Omegro’s proprietary benchmarks and best practices, the team gathered key data points to help inform decision-making and operational improvements.

Shipnet became part of the SpecTec group, providing immediate access to insights from other large software businesses serving the marine industry. The leadership team also participated in a multi-day training program covering every facet of running and growing a successful software company. From day one, Shipnet gained access to decades of benchmarking data, proven financial practices, and comprehensive talent development resources.

“I've been part of a number of training programs, and I think the most impactful that I've been part of is the VBU leader training ship program... So, that's been a tremendous help for me progressing into where I am now." - Terje Kristiansen, CEO, Shipnet.

Omegro supported Shipnet through a rigorous strengthening phase, aligning best practices to optimize cost management. The company underwent significant restructuring to stabilize its financial base, enabling leadership to shift focus toward consistent, organic, and predictable growth.

Positioning for the future

The company has embraced Omegro’s M&A approach; exploring tuck-in acquisitions that complemented Shipnet’s existing offerings. Leveraging Omegro’s scale and experience allows Shipnet to identify partners with industry expertise and adjacent solutions - often a more efficient path to meeting customer demand than building everything internally.

“When you are seen as a growth business, growing organically and predictably, it provides the opportunity to now invest money to purchase other complementary software businesses. Combined with our brand-new strategy, that’s super exciting.” - Terje Kristiansen, CEO, Shipnet