Windward, a leading maritime AI firm, has exited the London Stock Exchange following a significant acquisition by FTV Capital, reflecting a growing trend of tech firms leaving the exchange.
- The acquisition price of 47p per share is a 47% premium over Windward’s previous closing price, emphasizing the value placed on its maritime AI capabilities.
- Windward, aiming for substantial growth, decided to go private to facilitate future investment needs and enhance operational foundations.
- The company’s CEO, Ami Daniel, highlights the strategic partnership with FTV, envisioning accelerated expansion, especially in the US market.
- The delisting process will conclude by Q1 2025, with a shareholder vote scheduled for January, marking a new chapter for Windward.
Windward, a prominent player in maritime artificial intelligence, has recently been acquired by FTV Capital, a fund associated with a US investor. This acquisition marks Windward as the latest tech company to leave the London Stock Exchange. The deal is valued at £216 million and demonstrates a notable premium of 47% over Windward’s previous share price. This figure is almost double the company’s average closing price over the past 12 months.
Such a strategic decision to go private allows Windward to address potential future investment needs, which, although possibly impacting short-term profitability, is expected to lay down solid operational foundations for future growth. With the backing of FTV Capital, Windward sees an opportunity to expand, particularly in the United States.
Ami Daniel, the CEO of Windward, expressed confidence in the benefits this partnership with FTV Capital brings. He stated, “The fund team has an outstanding track record in supporting the scaling of founder-led software businesses globally.” Daniel emphasized that this collaboration would strengthen their organization significantly. For customers, this means enhanced value derived from data, thanks to an ambitious product roadmap envisioned by Windward.
Brad Bernstein, managing partner of the fund, remarked on the growing demands for advanced maritime intelligence due to expanding global trade and tightening regulatory regimes. Windward, with its state-of-the-art maritime AI analytics platform, addresses needs across risk, compliance, and the supply chain. This capability delivers real value to an ever-expanding global customer base.
This acquisition by FTV Capital positions Windward to leverage its maritime AI expertise and facilitate its next phase of growth on a global scale.
