The Kongsberg Group said as it was increasingly looking towards the commercial and industrial sectors of its portfolio, the leisure boating sector was outside of its core business activities.

As a result of the sale, Simrad Yachting can now look forward to a strong future with further development and investment under Altor.

"With an excellent funding base we will be able to continue in the development of new technology for the benefit of the boat owner, " says Simrad Yachting president, Jan Berner.