We will combine our resources, expertise, and technology to provide new and existing customers with even better solutions, says Tor Hellestøl, CEO at the newly formed Fishglobe Technologies.
Sandnes-based ICON Systems, which has been a key partner to FishGLOBE since 2018, has developed the fully integrated control system SALMATIC. Now, the two companies have decided to merge to enhance their offerings in aquaculture solutions and closed-system fish farming. “We will combine our resources, expertise, and technology to provide new and existing customers with even better solutions,” explains Tor Hellestøl, CEO of the newly formed Fishglobe Technologies.
FishGLOBE has faced economic challenges following the introduction of the salmon farming resource rent tax, with last year’s revenue at just 4.6 million NOK and a pre-tax loss of -12.4 million NOK. ICON Systems, on the other hand, had a revenue of 18.6 million NOK, but also reported a pre-tax loss of -3.1 million NOK. This merger thus comes at a time when both companies see the need for a strategic consolidation.
FishGLOBE still has many irons in the fire; they hold several contracts both domestically and internationally, and in May, they were awarded two significant construction contracts valued at over 500 million NOK. Starting from January 2025, all employees of the merged company, now named Fishglobe Technologies, will be co-located in new premises in Stavanger. “We aim to be a good team player meeting expectations and creating solutions that enhance what we could offer as two separate companies,” says Hellestøl optimistically.