Schneider Electric IT business

Schneider Electric reaches an agreement to sell its

- Schneider Electric announces today that it has signed an agreement to sell its Transportation Business, one of the recognized providers of mobility worldwide, to Kapsch TrafficCom AG.

The Transportation Business is targeting the major cities, highways and infrastructure operators in the world. It offers a large scope of solutions and services in the areas of traffic, tolling, tunnel and transit, which make mobility more efficient, safe and sustainable. The business generated revenues of €134m in FY2014. The Transportation Business is currently consolidated under the Infrastructure business of Schneider Electric.

The terms of the agreement reflect a purchase price of about €35m on a cash-free, debt-free basis. The sale of the Transportation Business is consistent with the Group's strategy to optimize its portfolio and strengthen its focus on core businesses. The transaction would generate a capital loss/impairment of about €100m. Such loss/impairment would be excluded from the basis of calculation for Schneider Electric’s 2015 dividend.

The agreement is conditioned upon the satisfaction of certain regulatory conditions and on other customary closing conditions. The transaction is expected to close in the coming months.

About Schneider Electric
Schneider Electric is the global specialist in energy management and automation. With revenues of €25 billion in FY2014, our 170, 000 employees serve customers in over 100 countries, helping them to manage their energy and processes in ways that are safe, reliable, efficient and sustainable. From the simplest of switches to complex operational systems, our technology, software and services improve the way our customers manage and automate their operations. Our connected technologies will reshape industries, transform cities and enrich lives. At Schneider Electric, we call this Life Is On.

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