Siemens (SIEGn.DE), opens new tab has agreed to buy Italian rail technology Company Mer Mec in a deal worth around 1 billion euros ($1.17 billion), a person familiar with the matter told Reuters on Tuesday.
Mer Mec, based in Monopoli near Bari, is owned by the investment holding company Angel Holding, headed by its CEO Vito Pertosa. Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here. Siemens declined to comment.
The acquisition, which is due to be announced this week, would be intended to strengthen the technology and software part of Siemens Mobility, the group's trainmaking division.
Mer Mec specialises in signalling systems, analytics and data software as well as track measurement and inspection systems. Its projects have included a new rail signalling system for the Channel Tunnel between Britain and France.
