Siemens to Buy Software Company Sqills
August 05 2021 - 1:20AM
Dow Jones News
By Sarah Sloat
Siemens AG said Thursday that its Siemens Mobility unit plans to
acquire software company Sqills for 550 million euros ($651.1
million), plus a performance-based factor.
Sqills, based in the Netherlands, is active in cloud-based
inventory management, reservation and ticketing software for
public-transport operators.
The technology adds to Siemens Mobility's software portfolio and
will strengthen its ability to provide products and services that
help increase overall use of public transportation, the company
said.
Siemens expects the acquisition to be accretive to earnings per
share in the second year after closing, and it expects the deal to
close in the first quarter of fiscal 2022, which begins Oct. 1.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
August 05, 2021 01:16 ET (05:16 GMT)
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