ACS to buy transit and parking division of Swiss firm
- By Dibya Sarkar
- Aug 03, 2005
Affiliated Computer Services (ACS), which provides traffic and parking technologies for revenue collection, will purchase the transit and parking division of a Switzerland-based communications company for about $100 million.
The deal with Ascom Holding is not expected to close until December, and international regulatory agencies must still approved it agencies, according to an ACS announcement. The Swiss company’s Transport Revenue Division, which has customers in the United States and eight other countries, consists of three business units – transit, parking and toll collection.
“This combination will solidify ACS’ position as the leading provider of transportation solutions to governments worldwide in terms of revenue,” Tom Burlin, group president of ACS Government Solutions, said in a prepared statement. “With Transport Revenue, we will add a strong management team, leading-edge technological solutions and a global marketing platform serving customers in over 30 countries.”
Although ACS' transportation division has a few international contracts, the purchase of the Swiss division signals a significant leap into the global market.