Hitachi Unit to Buy British Railway System Developer

Economy

Tokyo, Aug 11 (Jiji Press)--Japanese electronics and machinery maker Hitachi Ltd. <6501> said Tuesday that Hitachi Rail, one of its subsidiaries, will acquire Perpetuum, a British railway system developer.

The acquisition price has not been disclosed, but it is expected to be several billions of yen.

The buyout is expected to be completed by autumn.

Perpetuum, established in 2004, develops, among other products, digital sensors that detect the aging of railcars. The firm operates in some 10 countries, including Britain, India and Australia.

By applying Hitachi’s Internet of Things technology to Perpetuum’s operations, the Japanese company hopes to further globalize and strengthen its railway business.

[Copyright The Jiji Press, Ltd.]

Jiji Press