WABCO Acquires Belgian Fleet Management Company
WABCO Holdings Inc., a global technology company and tier-one supplier to the commercial vehicle industry, announced that it acquired Transics International NV, a European provider of fleet management solutions headquartered in Ypres, Belgium.
"WABCO is continuing to execute its strategy to expand its fleet management solutions to commercial vehicle operators globally. With the acquisition of Transics International, we can now leverage the powerful combination of WABCO's commercial vehicle systems expertise and industry-leading safety and efficiency technologies with Transics' world-class fleet management solutions," said Jacques Esculier, WABCO chairman and chief executive officer. "The integration of comprehensive real-time data gathered from WABCO's onboard advanced braking, stability control and efficiency systems with Transics' innovative telematics services will offer fleet operators a rich source of data to enhance their fleet services, gain operational productivity and increase vehicle safety and efficiency."
Transics International provides seamless fleet management solutions that help commercial vehicle fleet operators to effectively and more efficiently manage their trucks, trailers, drivers, cargo, and orders in real-time, according to WABCO. Transics International currently serves more than 1,300 road transport and logistics companies across Europe connecting over 85,000 vehicles.
WABCO said it 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, and 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.
Transics International has approximately 280 employees. The company maintains offices in Belgium, France, Ireland, the Netherlands, Germany, Spain, and Italy. It manages a sales network across Europe.
WABCO has completed the acquisition of 96.84 percent of Transics International shares by acquiring holding company Tavares NV in a cash transaction. The purchase price was EUR 111.1 million, which included the acquisition of EUR 15.3 million 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 percent of outstanding Transics International shares at EUR 14.14 per Transics International share.