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Stock Market & Financial Investment News

News Breaks
February 13, 2014
06:27 EDTWBCWABCO acquires Transics International for EUR 111.1M
WABCO Holdings announced that it has acquired Transics International NV. Transics. WABCO plans to combine Transics International's operations with its existing Trailer Systems, Aftermarket and Off-Highway business. Transics International will continue to operate under its own brand and, as part of WABCO, will offer its comprehensive range of market-leading products and services in key markets worldwide, including its TX-CONNECT platform and suite of related systems. WABCO has completed the acquisition of 96.84% of Transics International shares by acquiring holding company Tavares NV in a cash transaction. The purchase price was EUR 111.1M, which included the acquisition of EUR 15.3M of net cash held by Transics International, resulting in a net consideration of EUR 95.8 million. Pursuant to applicable Belgian takeover rules, WABCO will make a mandatory unconditional public offer to acquire the remaining 3.16% of outstanding Transics International shares at EUR 14.14 per Transics International share.
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July 14, 2014
06:36 EDTWBCWABCO announces major deal in Saudi Arabia
WABCO announced that its newly acquired fleet management solutions, or FMS, company, Transics International, signed a groundbreaking contract with Saudi-Arabia based Almarai, one of the world's largest dairy companies. The contract marks the dynamic global expansion of Transics, a market leader in Europe, after WABCO acquired the company in February. Transics will equip Almarai's entire long-haul vehicle fleet of more than 1,300 trucks with its industry-leading fleet management system, thereby, helping the food company to further enhance its fleet's safety performance and operational efficiency. Starting in August, Transics will upgrade Almarai's trucks with advanced TX-SKY on-board computers and install its web-based back office system TX-CONNECT for efficient truck, driver, trailer and cargo management. Transics expects to furnish Almarai's entire fleet of long-haul trucks by 2Q15.

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