Kongsberg Digital said on Tuesday that it has taken over Interconsult Bulgaria Ltd

Kongsberg Digital said on Tuesday that it has taken over Interconsult Bulgaria Ltd

Kongsberg Digital, a subsidiary of listed Norwegian technology corporation Kongsberg Gruppen, said on Tuesday that it has taken over software developer Interconsult Bulgaria Ltd, or ICB, and will turn it into its European platform for delivering existing projects and accelerating industrial digitalisation in the context of energy transition.

The buyer did not disclose the financial parameters of the transaction in its stock exchange filing.

The deal is seen to complement Kongsberg Digital's know-how in the fields of Internet of Things (IoT), visualisation, artificial intelligence (AI) and machine learning for the maritime, oil and gas, and utilities industries.

Founded in 1996, ICB provides services in business process modelling, software architecture design, software development, quality assurance as well as 3D modelling and design. The company, which has worked with the Kongsberg group since 2004, is active in the industrial engineering, maritime, banking and financial services, and IT sectors. ICB employs over 130 staff, according to its website.

"ICB has also shown that they can attract and retain real talent in a highly competitive market, which is key to establishing ICB as a European location for growth," Kongsberg Digital chief executive Hege Skryseth said in the statement.

Kongsberg Digital, which was launched in 2016, employs over 700 software experts. The company specialises in cloud data infrastructure, autonomy, smart data and augmented reality used for shipping, oil rigs and oil well drilling, power grid operations, renewables installation and naval training, among others.

In late April, Kongsberg Digital announced that it expanded its contract with an unnamed oil and gas major to apply its Kognitwin digital twin cloud-based platform to four of the client's assets in development after implementing it for two existing assets in 2021.

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