Octopus UK Bidco to acquire Windward for $270m

Octopus UK Bidco, a subsidiary of FTV VIII, has announced a recommended cash acquisition of Windward, a maritime artificial intelligence (AI) based analytics firm, in a deal valued at around £216m ($270.7m).

The deal will result in Windward shareholders receiving 215 pence per share in cash.

Windward provides a comprehensive platform for maritime domain awareness and risk management.

Its AI-driven solution enables stakeholders to make predictive, real-time decisions with a comprehensive 360° perspective of the maritime ecosystem.

Recently, Windward joined forces with US-based AI company Dataminr to incorporate real-time alerting into its maritime platform, equipping customers with tools to address maritime and global events proactively.

Windward CEO Ami Daniel said: “This marks an exciting next step in the evolution of Windward, providing the opportunity to build upon our first mover advantage in maritime generative AI through accelerated innovation and greater market reach.

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“We are incredibly proud of the growth we have achieved while on the AIM market, and our ability to adapt and incorporate evolving technology, specifically generative AI.”

The acquisition process, structured as a merger in line with Israeli Companies Law, is expected to conclude by the end of the first quarter of 2025.

FTV VIII managing partner Brad Bernstein said: “As global seaborne trade expands, regulatory regimes tighten and supply chain pressures mount, the need for advanced maritime intelligence and visibility has become imperative for global organisations to effectively operate and manage risk in an increasingly complex landscape.

“Windward has built a best-in-class maritime AI-based analytics platform spanning use cases across risk, compliance, trading, and the supply chain and delivering tangible value to its growing blue-chip customer base worldwide.”

Legal advice for the acquisition is being provided by CMS Cameron McKenna Nabarro Olswang and Epstein Rosenblum Maoz for Windward, with Willkie Farr & Gallagher and Gornitzky representing the FTV VIII, Bidco, and SPV.