Siemens Mobility is selling Yunex Traffic to international road traffic business Atlantia for €950 million.
Yunex turned over €600 million in the financial year 2021. The deal is expected to close in September this year.
Atlantia CEO Carlo Bertazzo said the acquisition marked a major step forward for his business.
"We aim to deliver operating and growth synergies between our assets and Yunex Traffic, with the intention of creating a highly competitive, one-of-a-kind group, able to deliver synergies in the management of infrastructure, services and technological innovation, in order to improve the travel experience."
Siemens Mobility CEO Michael Peter adds: “With the sale to Atlantia, Yunex Traffic becomes part of a highly dynamic traffic ecosystem that will ensure cleaner air and more liveable cities and safer roads. Under the umbrella of Atlantia, Yunex Traffic will be perfectly positioned to actively shape the market and break new ground in traffic management with the help of digitalisation and disruptive technologies.”
Siemens CEO Roland Busch said Atlantia was the 'best owner' for Yunex.
The acquired company is planned to be managed as a separate entity. Yunex will continue to build its position in adaptive traffic management systems and intelligent solutions for networking traffic and toll systems. It will focus on automation and digitalisation to more thoroughly exploit the potential offered by cloud computing, 5G, and artificial intelligence.