Given how ST Engineering took on significant debt to fund the acquisition, the progress of the deal was naturally a focus when the company announced its 1HFY2022 earnings on Aug 12.
When Singapore Technologies Engineering (ST Engineering) spent US$2.7 billion ($3.7 billion) to acquire US transport management system company Transcore, it was the largest-ever acquisition for a company that up till a few years ago, was better known for steady organic growth.
The deal, first announced last October, was completed in March. It was meant to give ST Engineering a leg up in its overall smart mobility, which is in turn part of a broader, growing market in smart-city systems.
