EUROPE: Belgian communications and control technology company Televic Rail has acquired German train, metro and tram passenger information system supplier GSP Sprachtechnologie as part of its international growth strategy.
The acquisition ‘gives us greater access to the highly attractive German market and the larger Germany, Austria and Switzerland region’, said Televic CEO Lieven Danneels when the deal was announced on July 26. ‘It will accelerate our growth and reinforce our innovations and product developments.’
Berlin-based GSP employs 243 people and has supplied its products to more than 30 countries. ‘Joining forces with Televic Rail allows us to ensure the continuity and further growth of our business’, said board member Dr Günter Breidbach.