Italy’s Atlantia to acquire Siemens unit for $1.1 billion

Italy’s Atlantia to acquire Siemens unit for $1.1 billion
Italy’s Atlantia to acquire Siemens unit for $1.1 billion

T + T – normal size

Italian holding company Atlantia, owned by the Benton family, agreed on Monday to acquire the road signs and software unit of Germany’s Siemens AG, the largest engineering company in Europe, for 950 million euros ($1.1 billion), including debt, according to the company. Bloomberg News reported.

And Bloomberg quoted a statement for the Munich-based company as saying that the Siemens board of directors and supervision had approved the planned sale plan for the UNIX traffic unit, which manufactures traffic lights and its programming systems.

The statement said that Atlantia will add about 3,000 employees through this agreement, which is in line with the Italian company’s strategy to expand its technology products.

Follow the economic statement via Google News
Follow the economic statement via Google News

Print
Email

Twitter
LinkedIn
Pin Interest
Whats App

These were the details of the news Italy’s Atlantia to acquire Siemens unit for $1.1 billion for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Foodics to become the region’s leading food technology company

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]