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TransCore acquisition crimps ST Engineering’s earnings, but more new orders seen

Lim Hui Jie
Lim Hui Jie8/18/2022 08:13 PM GMT+08  • 8 min read
TransCore acquisition crimps ST Engineering’s earnings, but more new orders seen
When asked which one of the company’s three segments it will focus on to drive growth, ST Engineering’s CEO Vincent Chong simply replies, “All three.”
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When Singapore Tech­nologies Engineering (ST Engineering) spent US$2.7 billion ($3.7 billion) to acquire US transport management system com­pany Transcore, it was the largest-ever acquisition for a company that up till a few years ago, was better known for steady organic growth.

The deal, first announced last Oc­tober, was completed in March. It was meant to give ST Engineering a leg up in its overall smart mobility, which is in turn part of a broader, growing market in smart-city systems.

Given how ST Engineering took on significant debt to fund the acqui­sition, the progress of the deal was naturally a focus when the compa­ny announced its 1HFY2022 earn­ings on Aug 12.

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