Tier-one commercial vehicle supplier WABCO Holdings has completely acquired Belgium-based fleet management solutions provider Transics International with the acquisition of the remaining 3.16% stake in the company.
Earlier in February 2014, WABCO acquired 96.84% stake in the Transics International for a net consideration of €95.8m.
According to the company, the new transaction is compliant with the Belgian takeover rules.
WABCO Trailer Systems, Aftermarket and Off-Highway executive officer and vice president Nick Rens said, "We reiterate that the synergy of WABCO and Transics superbly aligns with a WABCO strategic objective to further grow business with fleets around the world as we expand our portfolio of innovative solutions tailored to the specific needs of our global customer base."
Following the transaction, Transics International will become part of WABCO and continue to offer services under its own brand.
Transics International is headquartered in Ypres, Belgium and also has offices in France, Germany, Ireland, Italy, the Netherlands and Spain along with sales network across Europe.
