ST Engineering's acquisition of tolling and traffic management specialist TransCore will make the new owner a "sustainable smart mobility market leader", it says.
The $2.68 billion deal is expected to close in the first quarter of 2022, with TransCore slated to generate $545 million of revenue this year.
Headquartered in Singapore, ST Engineering has revenues of around $5.4 billion and has interests in Smart Cities, aerospace, defence and public security.
"With the addition of TransCore, ST Engineering will be uniquely positioned as a sustainable smart mobility market leader, underpinned by our strengths in technology and innovation,” said Vincent Chong, CEO of ST Engineering.
“TransCore has established a premier business, demonstrated by its industry-leading solutions and backed by a talented workforce, in which we will continue to invest."
TransCore owner Roper Technologies will retain its DAT and Loadlink network software businesses, which it acquired together with TransCore in 2004.
