Siemens Mobility signed a binding agreement to acquire the Netherlands based company Sqills, a leading Software as a Service (SaaS) provider for inventory management, reservation, and ticketing software to public transport operators around the world. EUR 550 million plus an earn out is part of the agreed purchase transaction. The closing of the transaction, subject to customary conditions, is expected in the first quarter of fiscal year 2022.
Sqills has developed “S3 Passenger” as an outstanding and scalable platform that enables rail and bus operators to replace their legacy reservation systems with a state-of-the-art, online booking system that increases the utilisation and availability of passenger transport. This technology adds an important digital solution to Siemens Mobility’s software portfolio and bolsters its ability to provide the products and services that helps increase the overall usage and convenience of public transportation.
“The acquisition of Sqills and its easy to implement SaaS inventory, reservation and ticketing platform gives us the ability to achieve exactly that. Furthermore, combining the Sqills booking platform and the Hacon solutions provide a comprehensive offering for operators to manage their key travel processes, including trip searching and yield management,” Michael Peter, CEO of Siemens Mobility said.
The acquisition of the Dutch company is the latest example of Siemens Mobility’s dedication to developing its software portfolio for digital intermodal and connected mobility solutions. Together with Hacon, eos.uptrade, Bytemark and Padam Mobility, Sqills’ S3 Passenger will become part of an interconnected software portfolio where a wide variety of services for public transport are brought together.
In addition, with its Hacon trip planning and MaaS software, Siemens Mobility can now provide operators with an enhanced Software as a Service offering to manage their core processes. With the growing liberalisation of the rail operator market this will be critical, as customers are increasingly seeking competitive mobility solutions that will help them better serve passengers.
Sqills will be managed as separate legal entity and wholly owned subsidiary of Siemens Mobility, a structure that will allow it to strengthen its leading position in offering innovative, smart, and comprehensive mobility solutions.
Founded in 2002, Sqills currently employs 160 people and forecasts revenue for calendar year 2022 of around EUR 40 million with a sharply growing scalable SaaS-business model. The company’s client portfolio covers 33 operators from nine countries
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