In the wake of CAI Software’s recent acquisition of Maritech, CEO Brian Rigney has outlined ambitious plans for expanding the company’s presence in the North American market.
CAI Software CEO Brian Rigney has provided insight into the acquisition of aquaculture software provider Maritech, a significant move in the global seafood Enterprise Resource Planning (ERP) market.
The deal, which took two years to materialize, was initiated after an encounter at the Boston Seafood Show in March 2022, he told SalmonBusiness.
Maritech snapped up by software maker backed by $10 billion US equity firm
“We have been looking at the deal for two years. The initial conversation started in December 2022. They weren’t ready to sell at first, and we have been talking off and on since then,” Rigney said.
The acquisition was driven by Maritech’s impressive portfolio and company culture. “The things that made them attractive were the people, the product, and the technology. They have a great product and culture,” said Rigney. He emphasized that Maritech’s integration into CAI’s food portfolio, particularly with their SeaSoft product, would significantly strengthen their offerings.
Seasoft is an integrated, Windows-based ERP solution aimed at the seafood industry.
Discussing the impact on market presence, Rigney mentioned, “It fits nicely with what we are doing in North America. This allows us to expand more aggressively domestically and internationally.”
Maritech’s operational independence was a crucial aspect of the acquisition, with Rigney affirming, “It’s going to be run independently. We respect all that they have done and are doing in Norway.”
CAI Software aims to use its network to broaden Maritech’s reach. “We are going to help accelerate their expansion into North America and will look to build on their existing 2,000 customers with our own customer set,” Rigney added.
Rigney declined to disclose the financial terms of the deal, but noted that the acquisition marks a significant step for CAI Software in consolidating its position as a leader in the seafood ERP market, with a now expanded presence across Norway, Iceland, Canada, and the United States.
