Siemens Mobility said it signed an agreement to divest Yunex Traffic, the international road traffic business, to Atlantia S.p.A for enterprise value of 950 million euros.
The agreement marks the conclusion of a bidding process launched by Siemens in recent months, and which has seen Atlantia beat off competition from a large number of international bidders, Atlantia said in a statement.
Closing is expected by September 2022, subject to the relevant regulatory approvals.
Munich-based Yunex Traffic is a global leader in the Intelligent Transport Systems and Smart Mobility businesses. Its traffic management and urban mobility infrastructure and platforms are used in over 600 cities and on four continents (Europe, the Americas, Asia and Oceania).
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