<div id="readability-page-1"><div><p>[ROME] Siemens said on Thursday (May 14) that it has agreed to buy the core business of Italian rail technology group Mermec, to strengthen its rail portfolio and gain market access to Italy.</p><p>The parties agreed not to disclose the transaction’s financial terms, the German ⁠engineering group said. Two people familiar with the transaction said that the deal was worth 1.2 billion euros (S$1.8 billion).</p><p>Michael Peter, CEO of Siemens Mobility, said: “By combining Mermec’s technological expertise and market access with Siemens Mobility’s global presence and technology leadership, we are strengthening our capabilities in diagnostics, asset-intelligence and signalling capabilities.”</p><p>The company added that the deal would support the modernisation and digitalisation of the national rail network in Italy.</p><p>Siemens’ estimated revenue synergies were worth more than 400 million euros a year in the midterm, and would grow to 500 million euros yearly in the long-term, the German group said in slides for investors.</p><p>Mermec, based in the southern Italian town of Monopoli near Bari, is owned by investment holding company Angel Holding, headed by chief executive Vito Pertosa.</p><div><div><h3>Navigate Asia in<br/>a new global order</h3><p>Get the insights delivered to your inbox.</p></div></div><p>He said that he pursued the transaction for health and family reasons, and that it would contribute to the growth of the company and help create new jobs.</p><p>In 2025, the group had revenues of more than 430 million euros, 75 per cent coming from Italy, and a core profit margin of 17 per cent, the slides showed.</p><p>As part of the deal, Mermec’s employees, which number 1,700 worldwide, as well as all sites and industrial capabilities, will become part of Siemens Mobility. This includes a key site in the town of Matera, set to become an industrial hub for next-generation diagnostics.</p><div><div><div><p>SEE ALSO</p><div><div><div><div><p><img height="2952" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/ee5d76d4bf8bc7987f86f2a208cc09cba9aaf697366ea94e7a2a0414061d2f74/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="4494" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/ee5d76d4bf8bc7987f86f2a208cc09cba9aaf697366ea94e7a2a0414061d2f74/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>Siemens to buy back 6 billion euros of shares against tough backdrop</span></h3><p></p></div></div><div><div><div><p><img height="641" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/14d10437e59c04512ce19a54c0a040dcd3bdc07e5f7ad07d0397b2623bf38c15/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="960" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/14d10437e59c04512ce19a54c0a040dcd3bdc07e5f7ad07d0397b2623bf38c15/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>Sumitomo Mitsui Trust Bank targeting US$500 million for new aircraft lease fund</span></h3><p></p></div></div><div><div><div><p><img height="3764" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/f59b867f96e808fe681632a9c00e98ad5fc4b0accf901668a9d57dc5cc4041ca/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="5828" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/f59b867f96e808fe681632a9c00e98ad5fc4b0accf901668a9d57dc5cc4041ca/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>eBay rejects GameStop’s US$56 billion bid as ‘neither credible nor attractive’</span></h3><p></p></div></div></div></div></div></div><p>The deal is expected to be finalised by the end of 2026. REUTERS</p><div><p>Decoding Asia newsletter: your guide to navigating Asia in a new global order. <span>Sign up here to get Decoding Asia newsletter.</span> Delivered to your inbox. Free.</p></div></div></div>

SIEGY

<p>Siemens has agreed to acquire the core business of Italian rail technology group Mermec for approximately 1.2 billion euros. This acquisition aims to enhance Siemens' rail portfolio and facilitate market access in Italy. The deal is expected to generate revenue synergies exceeding 400 million euros annually in the midterm, increasing to 500 million euros in the long term. Mermec's 1,700 employees and industrial capabilities will be integrated into Siemens Mobility, with the transaction anticipated to be finalized by the end of 2026.</p>

Siemens buys Italy’s Mermec businesses to strengthen rail tech portfolio