Siemens buys Italy's MERMEC businesses to strengthen rail tech portfolio
Siemens Acquisition of MERMEC: Key Details and Implications
Overview of the Acquisition
ROME, May 14 (Reuters) - Siemens said on Thursday it has agreed to buy the core business of Italian rail technology group MERMEC to strengthen its rail portfolio and gain market access to Italy.
The parties agreed not to disclose the transaction's financial terms, the German engineering group said in a statement. Two people familiar with the transaction said the deal was worth 1.2 billion euros ($1.40 billion).
Strategic Rationale and Expected Synergies
Combining Technological Expertise
"By combining MERMEC's technological expertise and market access with Siemens Mobility’s global presence and technology leadership, we are strengthening our capabilities in diagnostics, asset-intelligence and signalling capabilities," Michael Peter, CEO of Siemens Mobility, said in the statement.
It added that the deal would support the modernisation and digitalisation of the national rail network in Italy.
Financial Impact and Revenue Synergies
Siemens estimated revenue synergies worth more than 400 million euros per annum in the mid term, growing to 500 million euros yearly in the long term, the German group said in slides for investors.
About MERMEC and Angel Holding
Company Background
MERMEC, based in the southern Italian town of Monopoli near Bari, is owned by investment holding company Angel Holding, headed by Chief Executive Vito Pertosa.
Financial Performance
In 2025, the group had revenues of over 430 million euros, 75% coming from Italy, and a core profit margin of 17%, the slides showed.
Leadership Perspective
Pertosa said in the statement that he had pursued the transaction for health and family reasons and that it would contribute to the growth of the company and help create new jobs.
Deal Structure and Next Steps
Employee and Site Integration
As part of the deal, MERMEC's employees, which number 1,700 worldwide, as well as all sites and industrial capabilities will become part of Siemens Mobility, including a key site in the town of Matera, set to become an industrial hub for next-generation diagnostics.
Timeline for Completion
The deal is expected to be finalised by the end of the year.
Additional Information
($1 = 0.8537 euros)
(Reporting by Alexander Huebner in Munich and Giulia Segreti in Rome; Editing Gianluca Semeraro and Joe Bavier)
