EU OKs $2.7bn Siemens takeover of UK rail firm

April 18, 2013

The European Union's antitrust body has cleared a 1.74 billion pound ($2.7 billion) takeover of a British rail technology company by German industrial conglomerate Siemens.

The European Commission, which acts as the 27-nation bloc's , said Siemens AG's takeover of Invensys PLC's rail division does not violate since the merged entity will continue to face strong competitors.

Siemens in November said the acquisition of Invensys Rail, which specializes in railway signaling software and technology, will strengthen its own automation unit based in Berlin.

The Munich-based company said Invensys Rail has about has around 3,200 employees and annual revenues of 775 million pounds.

Explore further: Siemens lands 466-million-dollar order from US rail

0 shares

Related Stories

Siemens lands 466-million-dollar order from US rail

October 29, 2010

German engineering group Siemens said Thursday it has been awarded a 466-million-dollar contract to build 70 electric locomotives for US rail company Amtrak's busy northeastern routes.

EU clears Sybase takeover by Germany's SAP

July 20, 2010

European competition regulators on Tuesday approved German business software giant SAP's 5.8-billion-dollar (4.5-billion-euro) takeover of California-based Sybase.

Rail production that is fast and energy efficient

March 25, 2013

A new hardening technology used in the production of heavy duty rails saves energy and increases productivity. The Siemens' IdRHa+technology will now be used commercially for the first time in a production line operated by ...

Nokia Siemens axes services unit, 1,000 jobs at risk

December 5, 2012

Nokia Siemens Networks, a joint venture between Finnish and German engineering giants Nokia and Siemens, said Wednesday it is shutting down one of its German units with the potential loss of 1,000 jobs.

Siemens makes US acquisition in smart grid sector

December 5, 2011

German engineering giant Siemens said Monday it has agreed to buy eMeter, a US-based data management specialist, in a bid to enhance its position in the field of so-called smart grids.

Nokia Siemens to lay off 17,000 worldwide

November 23, 2011

(AP) -- Nokia Siemens Networks is slashing 17,000 jobs worldwide by 2013 - nearly 23 percent of its work force - as it strives to cut costs by euro1 billion ($1.35 billion).

Recommended for you

Cryptocurrency rivals snap at Bitcoin's heels

January 14, 2018

Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it's not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting.

Top takeaways from Consumers Electronics Show

January 13, 2018

The 2018 Consumer Electronics Show, which concluded Friday in Las Vegas, drew some 4,000 exhibitors from dozens of countries and more than 170,000 attendees, showcased some of the latest from the technology world.

Finnish firm detects new Intel security flaw

January 12, 2018

A new security flaw has been found in Intel hardware which could enable hackers to access corporate laptops remotely, Finnish cybersecurity specialist F-Secure said on Friday.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.