Rail News
Siemens to buy rail software company Sqills in 550 million euro deal
Channel News Asia
05 Aug 2021 (Switzerland)
ZURICH : Siemens is buying rail software company Sqills, the German engineering and technology company said on Thursday, its latest acquisition to expand into high growth markets outside its core activities.
The trains-to-industrial software maker will pay an initial 550 million euros (US$651.09 million) for Sqills, a software as a service provider, whose cloud-based products include inventory management, reservation and ticketing software.
Sqills has forecast revenues of around 40 million euros in 2022 and provides services to 33 operators, with customers including France's state-owned railway company SNCF, channel tunnel operator Eurostar and Irish Rail.
The Netherlands-based company has developed a platform that enables rail and bus operators to replace their old reservation systems with an online booking system that increases the utilization and availability of passenger transportation, Siemens said.
Source
https://www.channelnewsasia.com/business/siemens-buy-rail-software-company-sqills-550-million-euro-deal-2093366
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