Singapore Technologies Engineering (ST Engineering) has entered into an agreement to acquire all the ownership interests in TransCore for US$2.68bn. It is hoped that the acquisition will accelerate ST Engineering’s growth in the smart mobility sector.

TransCore is a leader in the transportation industry in North America. It provides technical solutions and engineering services for applications such as next-generation electronic toll collection, congestion pricing, intelligent transportation systems (ITS), back-office solutions and RFID products. TransCore is contracted to deliver a congestion pricing project in Manhattan, New York, the first ever in the US.

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