Hitachi Rail, a fully integrated, global provider of rail solutions agreed to acquire the Ground Transportation Systems business of Thales, a French multinational company that designs and builds electrical systems and provides services for the aerospace, defence, transportation and security markets, for €1.7bn ($1.8bn). "With this major strategic move, we will be able to focus on the development of our 3 high-tech long-term growth businesses, each of them able to sustainably deliver double-digit margins -- Aerospace, Defense & Security, and Digital Identity & Security -- further strengthening their best-in-class market position," Patrice Caine, Thales Chairman and CEO.