Siemens Mobility to acquire Sqills for €550m.

Siemens Mobility, a provider of intelligent and efficient mobility solutions, agreed to acquire Sqills, a rail software provider, for €550m. Closing of the transaction is subject to customary conditions and is expected in the first quarter of fiscal year 2022. “The acquisition of Sqills is a perfect example of how Siemens combines the real and digital worlds to empower its customers in their transformation. At the same time, Sqills supports our own growth path for digital services and is a great example of applying our capital allocation criteria through targeted acquisitions. It also fits perfectly to our recently announced focus on generating recurring revenu~e through resilient business models such as Software as a Service,” Roland Busch, Siemens President and CEO.