Accenture (ACN) has agreed to form a 30/70 joint venture with Fincantieri Group unit Fincantieri NexTech to "accelerate digital transformation" in the cruise, defense, and port infrastructure sectors, the companies said Thursday.
The Fincantieri Ingenium joint venture will initially focus on developing the Navis Sapiens system for new ships and to upgrade existing fleets. The first ship equipped with the system is expected to enter service by the end of this year, the companies said.
The joint venture also intends to improve real-time data exchange and connectivity between ships and onshore ecosystems via a sea-to-shore interoperability offering, Accenture and Fincantieri said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.