Siemens Mobility Acquires Sqills
Siemens Mobility has signed a binding agreement to acquire the Netherlands based company Sqills, a leading provider in the provision of cloud-based inventory management, reservation, and ticketing software to public transport operators around the world. The agreed purchase price is 550 million Euros plus an earn out.
Sqills has developed “S3 Passenger” as a scalable platform that enables rail and bus operators to replace their legacy reservation systems with a state-of-the-art, online booking system that increases the utilization and availability of passenger transportation. This technology adds an important digital solution to Siemens Mobility’s software portfolio and bolsters its ability to provide the products and services that helps increase the overall usage and convenience of public transportation.
“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 revenue through resilient business models such as Software as a Service,” said Roland Busch, President and CEO of Siemens.
“To significantly increase passengers on the rails and reach climate targets by 2030, we need to provide passengers with a more optimized process that allows them to seamlessly identify and utilize all offered train services. The acquisition of Sqills and its easy to implement SaaS inventory, reservation and ticketing platform gives us the ability to achieve exactly that. Furthermore, combining the Sqills booking platform and the Hacon solutions provide a comprehensive offering for operators to manage their key travel processes, including trip searching and yield management,” said Michael Peter, CEO of Siemens Mobility.
The acquisition is expected to be EPS accretive pre-PPA in the second year after closing. Closing of the transaction is subject to customary conditions and is expected in the first quarter of fiscal year 2022.