Ricardo, a global engineering, technical, strategic and environmental consultancy business, completed the acquisition of Transport Engineering, a rail systems technical engineering firm, for A$53.6m. "This acquisition is in line with our strategy of diversification both geographically and market sector, further increasing the proportion of our business in the Rail sector. In light of the well documented current challenges in the Automotive market where we have seen supressed performance this year, our strategy and market diverse portfolio of businesses is particularly relevant," Dave Shemmans, Ricardo Chief Executive Officer.