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Siemens to acquire Germany-based transportation firm
Electronics company Siemens on Monday announced plans to acquire Germany-based HaCon, an international information provider for public transportation, for an undisclosed sum.
Electronics company Siemens on Monday announced plans to acquire Germany-based HaCon, an international information provider for public transportation, for an undisclosed sum.
The deal is expected to conclude in the first half of this year after the anti-trust authorities approve the acquisition.
"The acquisition of HaCon will enable us enter a completely new business area that complements our current portfolio, expanding it to include timetable scheduling as well as trip planning by passengers," said Jochen Eickholt, CEO of Siemens' Mobility Division, in a statement.
HaCon will be managed as a separate legal entity and wholly-owned subsidiary of Siemens AG in the Mobility Division.
HaCon has been in the mobility business for 30 years and its trip planning software is used in more than 25 countries.
"Together with a strong partner like Siemens AG, we'll be even better equipped to drive the mobility software business, particularly in the global market," said Michael Frankenberg, CEO HaCon.
Siemens is a leading rail automation provider, offering systems including complete driverless operation.
