An arm of Hitachi Ltd. is reportedly among the suitors vying for a portion of Swarco, the traffic solutions provider owned by members of Austria's Swarovski family. The Japanese conglomerate is competing against several buyout firms, including Platinum Equity, for Swarco's intelligent transport systems unit.
Sources familiar with the matter indicate that a potential deal for this unit could be valued at around €1 billion, which translates to approximately $1.2 billion. The precise details of other bidders and the timeline for a final decision were not disclosed.
This move signifies a continued interest in the intelligent transport systems sector, attracting both industrial players like Hitachi and private equity firms such as Platinum Equity. The acquisition of Swarco's unit would likely bolster the acquirer's presence in the growing market for smart city and traffic management solutions.
