Diversis Capital LLC, a Los Angeles-based private equity firm focused on software and technology services, announced that it has acquired majority ownership of Tideworks Technology® Inc. from Carrix, Inc. Tideworks is recognized as a full-service terminal operating system (TOS) provider for marine and rail terminal operations globally, serving over 130 facilities worldwide.
History of Tideworks Technology
Tideworks was founded in 1999 as the technology division of Carrix and has become a global software brand with deep expertise in cargo transportation operations. The company's product suite, including the flagship Mainsail 10 TOS, Intermodal PRO, and a range of planning and execution tools, empowers terminal operators in North America, Europe, and Latin America. With over 300,000 logistics professionals relying on Tideworks solutions daily, the company plays a vital role in global port and rail infrastructure.
Diversis' Plans for Tideworks Development
Diversis Capital plans to invest in accelerating Tideworks' product innovation, expanding its commercial capabilities, and deepening relationships with terminal operators and international rail customers. The firm also intends to leverage its operational expertise and software-focused value-added solutions to support the next phase of Tideworks' growth as an independent business.
Uffe Ostergaard, CEO of Carrix, said, "Since its inception, Tideworks has been an integral part of Carrix, and we take pride in the exceptional product and team we have built over the past 25 years. It is important for Tideworks to find a partner with deep software experience to work closely with the Tideworks leadership team and enhance the platform."
Subbu Bhat, President of Tideworks Technology, added, "This is an exciting new chapter for Tideworks and our customers. As an independent software company backed by Diversis, we are well-positioned to accelerate our product roadmap and expand our global presence."
Kevin Ma, one of the founders and managing partners of Diversis Capital, said, "We have been looking for the right vertical software business in the port and logistics technology space for some time, and Tideworks is exactly the type of company we want to partner with."
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