from THALES (EPA:HO)
Thales has completed the sale of its Ground Transportation Systems business
PRESS RELEASE
31 May 2024
Meudon, France
Thales has completed the sale
of its Ground Transportation Systems business
Thales (Euronext Paris: HO) announces the completion on 31 May 2024 of the sale of its
Ground Transportation Systems Global Business Unit for an enterprise value of € 1,660 million to Hitachi Rail.
With around 9,000 employees, Ground Transportation Systems is a global leader in Rail Signaling and Train Control Systems, Telecommunications and Supervision systems and Fare collection solutions.
Through this divestment, Thales reinforces its strategic focus on 3 long-term high technology growth markets: Aeronautics & Space, Defense & Security, and Cybersecurity & Digital Identity.
The impact of the sale will be accounted for in Q2 24.
Note: In accordance with standard IFRS5, the financial data for the “Ground Transportation Systems” operating segment for 2022 and 2023 had been classified under “discontinued operations” following entry into exclusive negotiations with Hitachi Rail with a view to disposing of this business.
About Thales
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Thales (Euronext Paris: HO) is a global leader in advanced technologies specialized in three business domains: Defence & Security, Aeronautics & Space, and Cybersecurity & Digital identity.
It develops products and solutions that help make the world safer, greener and more inclusive.
The Group invests close to €4 billion a year in Research & Development, particularly in key innovation areas such as AI, cybersecurity, quantum technologies, cloud technologies and 6G.
Thales has close to 81,000 employees in 68 countries. In 2023, the Group generated sales of €18.4 billion.
CONTACTS
Thales, Deputy Group Communications Director Cédric Leurquin | PLEASE VISIT |
+33 (0)1 57 77 90 93 cedric.leurquin@thalesgroup.com
Thales, Media Relations Manager, Transport
Chrystelle Dugimont +33 (0)6 25 15 72 93 chrystelle.dugimont@thalesgroup.com
For information from Hitachi Rail, please contact:
Adam Love at adam.love@hitachirail.com or on +1 437 234 4024 Ed Brown at ed.brown@hitachirail.com or on +44 7850 071 287
For press information about Hitachi Rail, please gohere
CORPORATE COMMUNICATIONS – Thales – 2 Rue de la Verrerie – 92190 Meudon – France – www.thalesgroup.com