ST Engineering strikes largest acquisition with TransCore deal

The deal is expected to be completed in Q1 of 2022.

ST Engineering’s (STE) announced its plans to acquire Roper Technologies' TransCore, OCBC reported.

The deal is currently valued at $3.62b and is expected to be accomplished by the first quarter of 2022. To date, this is set to be the largest acquisition by the company.

TransCore offers road transportation solutions, including electronic toll collection in North America. Once the transaction is completed, STE will be able to penetrate the said region's electronic toll collection and congestion pricing market.

This will be funded by debt and cash, which would lead to an increase in net gearing.

Pre-acquisition, TransCore has achieved $72m (USD54m) pre-tax profit in the first half of 2021 and has a $1.63b (US$1.2b) backlog as of 31 July 2021. This is expected to add $58m in profit after tax from the 2023 financial year onwards, considering the 25% corporate tax, 2% cost of debt and 90:10 debt-cash funding.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

ARA LOGOS is currently on the 13th spot.
Meanwhile, the demand for petrochemical exports benefitted from this same crisis.
This is expected to speed up the electronic exchange of trade documents.
This is in support of achieving Absolute Zero Carbon by 2040.
Adults will only shop if goods are discounted by at least 48%, survey says.   About 54% of 1,001 Singaporean adults have plans to shop during the Black Friday sales but only if prices of goods are discounted by at least 48%, a survey from Finder.com showed.
This move is in line with its goal to accelerate recommerce growth in SEA.
The notes were released under its $3m Multicurrency Medium Term Note Programme.
Singtel showed the most growth.
Re-exports also saw an increase of 16.4% in the same month.
The marine company apologised to its workers at the dorm.
SG electricity demand peaked at 7,667MW in October 2021.
The two aim to accelerate the progression of AI.
It will focus on sustainable opportunities for companies in Singapore.
Cargo load factor, however, was down by 1.6% YoY to 97.3%.
Despite this, KF pegs their estimated total sales for the year at 13,000 units.