ST Engineering to acquire TransCore for $3.62b

The acquisition is set to bolster smart city growth.

ST Engineering has entered into a deal with Transcore Partners, LLC and TLP Holdings, LLC for $3.62b (US$2.68b).

The move is set to benefit ST Engineering’s smart city growth and aid in its positioning as a market leader in Smart Mobility.

ST Engineering President and CEO Vincent Chong stated that the acquisition supplemented ST Engineering.

“The Smart City space has been an important strategic focus area for ST Engineering. TransCore is a strong strategic fit for us and its road transportation solutions will complement and enhance our suite of Smart Mobility rail and road solutions. With this acquisition, we will be uniquely positioned as a Smart Mobility market leader, underpinned by our strengths in technology and innovation. This acquisition demonstrates our continued commitment to creating long-term value for our shareholders through sustainable global growth.”

Some of the enhancements the sale offers include improvements to smart mobility offerings, the acceleration of growth and innovation, a strengthened commitment to sustainability, synergy through cross-selling and a higher generation of cash and earnings accretion.

Transcore has had 80 years of history and is currently a leader in the transportation industry for North America. Part of the services the company provides include next-generation electronic toll collection, congestion pricing, Intelligent Transportation Systems (ITS), back-office solutions and RFID products.

Follow the link for more news on

ST Engineering

Acquisitions

Also Read

CSA, Cisco sign MoC to boost cyber defence

Singapore sees 40% drop in scam losses

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit