Thales to Sell Ground Transportation Systems Business to Hitachi Rail | Financial Buzz

Thales to Sell Ground Transportation Systems Business to Hitachi Rail

Thales and Hitachi Rail report entry into exclusive negotiations on sale of Thale’s Ground Transportation Systems Global Business Unit for € 1,660 million.  “After discussions with key market players, Thales has selected the best industrial partner to ensure a successful long term development of its ground transportation business. This move is creating significant value for our clients, employees and shareholders, and enables Ground Transportation Systems to be at the forefront of growth in sustainable mobility.” – Philippe Keryer, EVP Strategy, Research & Technology, Thales.

“With this major strategic move, we will be able to focus on the development of our 3 high-tech long-term growth businesses, each of them able to sustainably deliver double-digit margins — Aerospace, Defense & Security, and Digital Identity & Security — further strengthening their best-in-class market position.” – Patrice Caine, Chairman and CEO, Thales .

 “Today’s announcement marks an exciting opportunity for the teams at Hitachi Rail and Thales’s Ground Transportations Systems business to create new value for our customers, cities and passengers around the world. Not only will we grow the reach of our core signaling capabilities as part of our turnkey offering, but we are also bringing together our digital and MaaS capabilities. The strong teams, customer relationships and technologies at GTS will help us grow to become a major player, further enabled by Lumada and the digital engineering of our teams at GlobalLogic and the broader Hitachi Group.” – Andrew Barr, Chief Executive Officer, Hitachi Rail.

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