Project44 takes over Ocean Insights

The Rostock-based company Ocean Insights supports logistics on the water, Project44 primarily on land and in the air. The acquisition of Ocean Insights is the perfect addition for the Chicago-based company. No details are known.

The Rostock-based start-up Ocean Insights is being acquired by Project44. Ocean Insights offers tracking and analysis functions for sea freight, with data coming directly from the shipping companies.

Meanwhile, Project44 has established a visibility platform for shippers and logistics service providers worldwide. Details of the acquisition were not initially disclosed.

Ocean Insights was founded in Rostock in 2012. With its IT solution, it monitors around 350,000 containers every day; customers include the Sysco International Food Group and FourKites. "The merger with Project44 is the next logical step in building the multimodal visibility solution that global supply chains need," says CEO and CTO Felix Richter of Ocean Insights.

According to COO Robin Jaacks, the start-up had several offers for an acquisition, but it was Project44 that was "the ideal partner for us." The Chigaco-based company is delighted with the new addition: "Ocean Insights dominates the container tracking space and we look forward to providing the industry with not only the best ocean freight capabilities, but also the most comprehensive end-to-end visibility platform," says Jett McCandless, founder and CEO of Project44.