USA: The local holding has announced a final agreement to acquire the Inspection Technologies division from Evident, based in Japan.
The deal is to be estimated at almost $1.8 bln and will be completed by the mid-year after receiving approval from regulators. The acquisition is said to expand Wabtec’s presence in the digital solutions segment and double its total addressable market to $16 bn.
Inspection Technologies, among other things, focuses on automated inspection systems for rail track, forged wheel sets, and weld seams. At InnoTrans 2024, the company presented the PASAWIS mobile system for ultrasound control of wheel sets.
The division boasts four engineering and production facilities in North America and Japan and has 1,300 employees. It is projected to generate approximately $433 mln in revenue for 2024.