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Siemens to Acquire a Leading Software Provider for Public Transportation, Mobility and Logistics

Source: www.gulfoilandgas.com 4/28/2017, Location: Europe

HaCon to be managed as separate legal entity and wholly-owned subsidiary of Siemens AG in the Mobility Division Transaction still subject to approval by antitrust authorities, with closing planned for first half of calendar 2017 Siemens is planning to acquire HaCon, a company headquartered in Hanover, Germany. The two parties have agreed not to disclose financial details. Pending the approval of antitrust authorities, the deal is expected to be concluded in the first half of calendar year 2017.

HaCon is a leading international provider of planning, scheduling and information systems for public transportation, mobility and logistics. The company has been a successful player in the mobility business for 30 years. Trip planning software from HaCon is used in more than 25 countries and comprises the centerpiece of the travel information systems in operation at more than 100 transport companies and associations.

"The acquisition of HaCon will enable us to 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. "With this move, we're rigorously implementing our digitalization strategy and opening up new growth opportunities for our company along our customers' value chain," he added.

"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 of HaCon.

Siemens is already a leading rail automation provider, offering systems up to and including complete driverless operation. A leader in road mobility solutions as well, Siemens plans to expand its intermodal digital offerings with the acquisition of HaCon. Together with HaCon, Siemens will be able to serve rail infrastructure operators and public transportation companies as a single-source supplier of innovative software solutions for train and route planning, timetable information systems, cutting-edge payment systems and intermodal mobility platforms.

In addition, apps for use on passengers' mobile devices will enhance trip planning, transparency and thus acceptance.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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