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Business deals

Hitachi to buy Thales' railway signaling business for $2bn

Japanese industrial conglomerate to expand digitization of transport sector

Thales’ Ground Transportation Systems operates rail signaling, train-control and fare-collection systems. (Source photos by Reuters)

TOKYO -- Japanese industrial conglomerate Hitachi will buy European defense electronics company Thales' railway signaling business for 1.66 billion euros ($1.97 billion), the company said Wednesday.

The acquisition will be made through Hitachi's railway subsidiary Hitachi Rail. Though Hitachi and Thales have agreed on the enterprise value, the final purchase price could still be adjusted. The deal is expected to close in 18 months.

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