Siemens' recent acquisition of Sqills will accelerate expansion. Here are the top-line bullets you need to know.
Who are THE parties to the deal?
- Sqills: Netherlands-based Sqills provides cloud-based inventory management, reservation, and ticketing software for rail transport operators across the globe. The company provides services to 33 operators, including SNCF (France’s state-owned railway company), Irish Rail, and Eurostar, among others. It has around 160 employees and expects to generate $46.9M in revenue next year.
- Siemens: Munich-based Siemens is an industrial manufacturing company that provides infrastructure, energy, rail automation, wind power, and software solutions. It also manufactures medical diagnostic equipment. The company reported $18.9B in revenue in Q3’21. It has around 293,000 employees worldwide.
Why does the market matter?
The acquisition strengthens Siemens’ position in the rail software market where:
- Market value is projected to reach $37.36B by 2026, growing at a CAGR of 5.4%, according to AlliedMarketResearch.
- The industry is being driven by efforts to streamline operations and reduce operating costs, pandemic-induced digital acceleration, and increasing adoption of SaaS model integrations.