PITTSBURGH — Wabtec Corp. has officially acquired a Boston-based company’s safety technology division for $1.78 billion.
The North Shore-based railroad technologies company entered into an agreement to acquire Evident’s Inspection Technologies division at the beginning of this year. Inspection Technologies was previously part of the Scientific Solutions Division of Olympus Corp., which specializes in non-destructive testing and remote visual inspection.
“Today, we are a stronger company with the addition of Inspection Technologies,” Wabtec President and CEO Rafael Santana said in a prepared statement. “The acquisition expands and strengthens our digital intelligence business, with advanced products and services for the company’s rail, mining and industrial sectors, while broadening our reach into other high-growth, high-margin end-markets. It enhances Wabtec’s existing portfolio, is accretive to key financial metrics and aligns with the company’s long-term vision to lead the industry in innovation for our customers.”
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