Merging company

Making waves: IMSA to merge with Dryad Global to form a new maritime risk technology company

A marine data company that moved its headquarters to Chattanooga six years ago to take advantage of the city’s high-speed internet connections is merging with a London-based marine intelligence provider.

International Maritime Security Associates (IMSA), a maritime technology company founded almost a decade ago in Fort Lauderdale, which won the inaugural CHATech award in Chattanooga five years ago, is partnering with Dryad Global. The combined company will provide real-time maritime safety, analytics and risk data to customers at their office ashore or on deck at sea.

Corey Ranslem, CEO of IMSA Global, will serve as CEO of the combined company, which will be known as Dryad Global.

“This merger provides customers with an unprecedented maritime risk and safety technology offering in the delivery of maritime safety data, artificial intelligence and reporting, intelligence, safety analytics and alerts,” said Ranslem in a statement on the merger. “Dryad Global will become a partner of choice for large-scale insurers, logistics companies and international nations.”

The combined company will be headquartered in London but have an office in South Florida and maintain the global intelligence, operations and development center in Chattanooga.

“This is an extremely exciting time for us; the merger will greatly benefit our customers in the months and years to come,” Phil Diacon, chief operating officer of the combined company, said in a statement released this week. “This integration is an exceptional proposition for our customers, investors, shareholders and employees.”

IMSA launched its software platform, known as Automated Risk Management Solutions (ARMS), in 2018. Ranslem said the ARMS product line will be the company’s core line and is offered through three product lines main ones – ARMS Shipboard, ARMS Fleet Manager and ARMS. Cyber ​​security.

The merger of the two companies is expected to be completed by the end of the summer, Ranslem said.

The company targets approximately 55,000 freighters, nearly 7,000 large yachts and approximately 250 cruise ships that operate worldwide.

— Compiled by Dave Flessner