Ericsson and Pole Star Space Applications announce strategic partnership

• Ericsson and Pole Star partner to develop and deliver innovative offerings in fleet safety, security, environmental, and compliance-based business application solutions
• Partnership to drive growth, accelerate innovation and speed up digital transformation across the maritime industry
• Industry-leading scale and services capabilities will deliver differentiated customer value

Ericsson (NASDAQ: ERIC) and Pole Star Space Applications Ltd today announce a global business and technology partnership to create industry-leading services focused on the maritime sector.

The strategic partnership will offer maritime customers the best of both companies: ICT transformation, networking, cloud, mobility, management, regulatory compliance, situational awareness, and global services capabilities.

Together, Ericsson and Pole Star Space Applications plan to deliver customer value by offering maritime customers a complete end-to-end product and services portfolio with joint innovations that accelerate new business models, while also channeling the combined scale and innovation of both companies to accelerate the development of platforms and services for customers wishing to monitor and manage maritime assets worldwide.

The new strategic partnership will allow both companies to jointly address the needs of traditional shipping customers looking for improved fleet efficiency gains, as well as providing new solutions for managing compliance and environmental risk.

Julian Longson, Managing Director, Pole Star Space Applications Ltd, says: "Successful companies are those that build the right strategic partnerships to accelerate innovation, growth and customer value. Our announcement brings together two organizations with complementary cultures and strong track records of innovation. Our partnership will drive growth for both companies, create unique value for our customers and provide incredible innovation for the maritime industry."

John Taxgaard, Head of Maritime, Customer Group Industry & Society, Ericsson, says: "Ericsson is excited to partner with Pole Star as we continue to offer innovative solutions and services for the maritime sector. Our two companies share the same vision for the use of regulatory information and how this might be developed and leveraged by other industries. Initially, our partnership will focus on joint development and commercialization. For Ericsson, this partnership also underpins the strategy we have developed over the past several years, and it is a key move forward in our own digital transformation."

With advanced sanctions screening and vessel monitoring solutions, shipping companies will now be able to draw on the two partners' complementary offerings, including global services capabilities such as consulting, systems integration, and support to both ship and shore-based managed operations.

The partnership will also be a key driver of growth and value for both companies, with each benefiting from incremental revenues. New and greater opportunities are also expected, as the partnership enables both companies to drive their efforts and investments to deliver value in growth markets.

Ericsson will highlight its Maritime ICT Cloud offering at Danish Maritime Days, which takes place in Copenhagen from October 24 to 28.