Invensys, the engineering and support services group, announced that it had acquired Quantum Engineering Inc for US$38 million in cash. Invensys has come a long way in recent years, undergoing a long and painful asset disposal and restructuring program, but has emerged a stronger company.
Quantum Engineering is a signalling and train controls company based in Jacksonville, Florida, and will become part of Invensys’s rail subsidiary.
Invensys stated that the acquisition would allow it to increase its profile in the US rail aftermarket and open news sales opportunities.
“Integrating Quantum's unique products within the IRG train control product portfolio will substantially strengthen our technology offering in this expanding area. There is now a clear migration from trackside to on-board train signalling, a trend which is now gathering pace”, the company added.
Ulf Henriksson, Chief Executive of Invensys plc, stated:
"Following the recent acquisition of SAT Corporation by our Wonderware business unit, this acquisition further exemplifies Invensys' commitment to being a technology and solutions provider that significantly contributes to the business success of our customers. As well as providing a greater exposure to the US market, we can see great opportunities to bring Quantum's technical solutions for the benefit of our customers on a global basis. "