Project44 acquires Ocean Insights

The Rostock-based company Ocean Insights supports logistics on the water, Project44 especially on land and in the air. The acquisition of Ocean Insights is the perfect complement for the Chicago-based company. Details are not known.

Rostock-based start-up Ocean Insights is acquired by Project44. Ocean Insights provides tracking and analytics for ocean freight, with data coming directly from shipping companies.

Project44, meanwhile, 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 2012 in Rostock, Germany. With its IT solution it monitors about 350,000 containers daily, customers are for example Sysco International Food Group or FourKites. "Joining forces 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 startup had several offers for acquisition, but it was Project44 that was "the ideal partner for us." The Chigaco-based company is excited about the new addition: "Ocean Insights dominates the container tracking space and we look forward to providing the industry with not only best-in-class ocean freight capabilities, but also the most comprehensive end-to-end visibility platform," said Jett McCandless, founder and CEO of Project44.