Annual report [Section 13 and 15(d), not S-K Item 405]

Acquisition

v3.25.4
Acquisition
 12 Months Ended
Dec. 31, 2025
Business Combinations [Abstract]  
Acquisition

4. Acquisition

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On April 25, 2024, Norwegian acquired 100% of the voting equity interest of Independent Maritime Advisors Ltd. (“IMA”), a consulting company specializing in project management for newbuilds and vessel conversions for $37.5 million, which consisted primarily of cash and also included deferred consideration and the settlement of a pre-existing relationship. Norwegian acquired IMA to bring newbuild project management and supervision in-house and optimize the overall capital outflow for newbuild expenditures, which generates synergies that create goodwill.

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The purchase price was allocated as follows (in thousands):

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Assets, other than goodwill

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$

4,302

Goodwill

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37,630

Liabilities

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(9,088)

Total consideration allocated, net of $4.7 million of cash acquired

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$

32,844

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As of December 31, 2025, the measurement period pertaining to the acquisition has ended and no adjustment was recognized. The acquisition of IMA did not have a material impact on the Company’s consolidated statements of operations.