Agreement to Purchase Republic ITS Will Enhance Siemens' Complete Traffic Solutions Offering
ATLANTA, Sept. 23 --Siemens Industry, Inc. (NYSE: SI) announced today that it has signed an agreement to acquire Republic Intelligent Transportation Services, Inc. (Republic ITS), headquartered in Novato, Calif. Upon close, the company will be named Republic ITS, Inc., a Siemens Company. Siemens will acquire 100 percent of the stock of Republic ITS, which is majority-owned by an infrastructure fund managed by Alinda Capital Partners LLC. Terms of the acquisition will not be disclosed.
Republic ITS will become part of the Complete Transportation business of the Mobility Division of Siemens Industry, Inc. and be closely aligned with its Intelligent Traffic Solutions business. With the completion of this purchase, Siemens is making a commitment to strengthen its position in the transportation solutions, service and maintenance business. Republic ITS is a leader in the US transportation services and support for this key market and is expected to enhance Siemens' position. Republic's expertise will complement Siemens' technology portfolio and traffic management solutions.
Republic ITS will continue to operate from its Novato, Calif. headquarters. It employs approximately 300 people, who will be integrated into the Siemens business structure.
"The acquisition of Republic will allow Siemens to expand its reach in the traffic solutions and services business," said Oliver Hauck, president, Mobility division, Siemens Industry, Inc. "Ever-increasing demand for solutions to improve the sustainability of cities and ease congestion makes this acquisition even more critical. Republic is renowned for its superior service and maintenance capabilities for the traffic solutions industry. A combined portfolio of Siemens' products and solutions and Republic's services and maintenance represents a unique and complementary offering to our customers."
"Siemens' intelligent traffic solutions coupled with Republic's renowned service and maintenance capabilities, supports an aggressive growth strategy and further penetration into both existing and new markets," said Wade White, President of Republic. "Additionally, I'm confident Siemens will provide Republic ITS with the level of investment required in people, technology and operations to strengthen our position in the market."
Established in 1991, Republic specializes in Intelligent Transportation Services which include, but are not limited to the maintenance, testing, repair, and replacement of traffic signals, streetlights, digital cellular technology upgrades, call boxes, spread spectrum radio, side fired radar, CMS/DMS signs, weigh-in motion stations, ATMS and energy efficiency upgrades such as LED retrofits of traffic signals and streetlights. Republic has a broad range of expertise and experienced personnel including: registered professional transportation engineers, electricians and International Municipal Signal Association (IMSA) Certified Traffic Signal & Roadway Lighting Specialists.
Alinda Capital Partners LLC is the world's largest independent infrastructure firm, with over $7 billion in equity commitments to infrastructure investments. Alinda's infrastructure companies serve over 125 million customers annually in more than 250 cities. The companies operate in 18 states in the United States as well as in Canada, the United Kingdom, the Netherlands and Italy, and employ more than 15,000 people. Alinda's investors are predominantly pension funds for public sector and private sector workers. These institutions seek steady investments over the long term, matching their pension liabilities and include some of the largest institutional investors in the world. www.alinda.com
Siemens Industry, Inc. (SII) is the U.S. affiliate of Siemens' global Industry Sector business--the world's leading supplier of production, transportation and building technology solutions. The company's integrated hardware and software technologies enable comprehensive industry-specific solutions for industrial and infrastructure providers to increase their productivity, sustainability and profitability. The Industry Sector includes six divisions: Building Technologies, Industry Automation, Industry Solutions, Mobility, Drive Technologies and OSRAM SYLVANIA. With nearly 222,000 Siemens Industry Sector employees worldwide, the Industry Sector posted a worldwide profit of $2.7 billion on revenues of $47.7 billion in fiscal 2009. http://www.usa.siemens.com/Industry
SOURCE Siemens Industry, Inc.
Web Site: http://www.usa.siemens.com/Industry