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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.
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