SINGAPORE -- Singapore Technologies Engineering will buy U.S. transportation systems provider TransCore for $2.68 billion to bolster its urban mobility business, a recent area of focus for the state-linked defense manufacturer.
The deal, announced Sunday, represents ST Engineering's largest-ever purchase. TransCore is a major developer and operator of electronic toll collection, congestion pricing and other transportation services, and a technological leader in areas such as radio frequency identification, or RFID.
