Siemens Mobility purchases RailTerm to boost transit capabilities
Some 200 employees in Quebec and Ontario will be added to Siemens Mobility's current team of about 50 employees.
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Siemens Mobility is beefing up its Canadian capabilities to compete for transit projects by acquiring Canadian transit dispatcher and railway systems maintenance firm RailTerm.
The agreement enhances the Germany-based company’s railway track and signalling, electrification and communication systems expertise to deploy the next generation of rail technologies.
Financial terms of the deal that is expected to close July 1 were not disclosed.
Some 200 employees in Quebec and Ontario will be added to Siemens Mobility’s current team of about 50 employees.
Founded in 1996, RailTerm has more than 70 clients globally among passenger, freight and industrial rail customers.
Siemens Mobility has been a player in Canada’s transportation industry for more than 40 years, including light rail vehicles in Edmonton and Calgary, modern train sets that will be delivered to Via Rail starting in 2021, the electrification of the Kitchener-Waterloo light rail system and signaling and train control for Ottawa’s Trillium line.
“Canada’s rail industry is poised for unparalleled growth as its major cities introduce safe, efficient and innovative passenger rail services while its freight carriers transition from decades-old mechanical, hardware-based legacy systems to tomorrow’s cloud-based digitalized systems — and Siemens Mobility is one of the few companies in the world that understands the DNA of both systems,” stated Yves Desjardins-Siciliano, CEO of Siemens Mobility in Canada.
“As so many Canadian cities are moving to upgrade their public transportation infrastructures, we stand ready to help them design, build, finance, operate and maintain these future-enhancing services in the best way possible.”