Siemens buys MERMEC rail units for around 1 billion euros
Siemens agreed to acquire several key businesses from Italy's MERMEC group to bolster its rail technology portfolio. The deal is expected to close by year-end.
SIEMENS AG-REG agreed to acquire several rail technology businesses from MERMEC on the morning of May 14. The deal follows reports earlier this week that the transaction is valued at approximately 1 billion euros ($1.17 billion). This acquisition expands Siemens' footprint in the Italian rail market and strengthens its global signaling and infrastructure portfolio.
### Expanding Rail Market Access Siemens confirmed the agreement to purchase the MERMEC units during the morning of May 14. The acquisition targets specific high-tech rail assets to enhance the existing Siemens Mobility division. While the parties did not disclose official financial terms, Reuters reported the valuation reached the 1 billion euro mark.
