Hitachi Rail completed the acquisition of the Ground Transportation Systems business of Thales for €1.7bn.

Hitachi Rail, a fully integrated, global provider of rail solutions completed the acquisition of 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). "Hitachi continues its transformation to become a global leader in Social Innovation Business and is undergoing a mode change to achieve growth under the Mid-term Management Plan 2024. The acquisition of the Thales GTS business represents a significant milestone, and we are pleased to have achieved it in the final year of the plan," Keiji Kojima, Hitachi President and CEO.