Triple Point Acquires Softmar
News today that Triple Point has made another acquisition, this time it has acquired Softmar. Softmar is one of the few solutions on the market that covers freight and shipping. The company’s software is used by ship owners, operators, and charterers (including those that trade, procure, market, and move commodities) to manage all aspects of the vessel chartering process, post-fixture activities, the financial aspects of commercial vessel operations, and the trading and hedging of freight rate risk.
From CommodityPoint’s standpoint, this looks like another great acquisition by Triple Point as the shipping and freight area has really seen a lot of interest from solution procurers this last 24-months and Softmar was definitely one of, if not, THE leader in this area.
Triple Point’s acquisitions of company’s like ROME in the past have proven to have been very shrewd investments by the company based on both the number of license deals done and how that functionality extended the Triple Point platform in ways which mirrored market development and interest. We expect the acquisition of Softmar to be equally positive for Triple Point.
We will write more about this acquisition in the coming days…..
