Today we entered into agreement with the Siemens Group for the acquisition of a 100% stake in Yunex Traffic. Signature of the agreement follows a bidding process launched by Siemens in recent months, and which has seen us beat off competition from a large number of international bidders.
Yunex Traffic is a global leader in the provision of innovative Intelligent Transport Systems (ITS) and Smart Mobility services, with its traffic management and urban mobility infrastructure and platforms used in over 600 cities and on 4 continents (Europe, the Americas, Asia and Oceania). Yunex Traffic now employs 3,000 people, including 400 dedicated solely to research and development. It has an integrated business model, producing hardware, software and IOT devices and providing advanced modular traffic management solutions and maintenance services. The company has assembly plants and research and development centre located in Europe (the most important of which in Germany) and the USA. The major cities that have installed Yunex Traffic systems include Dubai, London, Berlin, Bogotá, with a track record of highly innovative projects.
Signature of the purchase agreement is a strategic step in the process of delivering the growth strategy that we announced in June 2021. This targets investment in sectors in which the Company is traditionally a leader (motorways, airports, digital payments for the mobility market), and in adjacent areas offering synergies: Intelligent Transport Systems, Electrification/Renewables, Rail and Mobility Hubs.
The world of mobility is indeed in a state of continual and rapid change: one of the principal trends is urbanisation, which has continued despite the pandemic. The development of new sustainable forms of mobility will take place in major urban centres, where technology will play a key role in enabling new business models, new behaviours and a new approach to decision-making.
With this partnership we are confirming our role as a strategic investor in infrastructure: will thus be able to boost our presence in urban areas, differentiating ourselves due to the fully digital, highly innovative nature of our offering.
