ST Engineering to acquire TransCore for $3.62b

The acquisition is set to bolster smart city growth.

ST Engineering has entered into a deal with Transcore Partners, LLC and TLP Holdings, LLC for $3.62b (US$2.68b).

The move is set to benefit ST Engineering’s smart city growth and aid in its positioning as a market leader in Smart Mobility. 

ST Engineering President and CEO Vincent Chong stated that the acquisition supplemented ST Engineering.

“The Smart City space has been an important strategic focus area for ST Engineering. TransCore is a strong strategic fit for us and its road transportation solutions will complement and enhance our suite of Smart Mobility rail and road solutions. With this acquisition, we will be uniquely positioned as a Smart Mobility market leader, underpinned by our strengths in technology and innovation. This acquisition demonstrates our continued commitment to creating long-term value for our shareholders through sustainable global growth.”

Some of the enhancements the sale offers include improvements to smart mobility offerings, the acceleration of growth and innovation, a strengthened commitment to sustainability, synergy through cross-selling and a higher generation of cash and earnings accretion.

Transcore has had 80 years of history and is currently a leader in the transportation industry for North America. Part of the services the company provides include next-generation electronic toll collection, congestion pricing, Intelligent Transportation Systems (ITS), back-office solutions and RFID products.