Wabtec to buy Evident's inspection technologies unit for $1.78 billion (updated)

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14/01/2025 11:28

(Adds details of the deal in paragraph 2-5)
       Jan 14 (Reuters) - Heavy industrial parts maker Wabtec
Corp  WAB.N  said on Tuesday it has agreed to buy Evident's
inspection technologies division for $1.78 billion.
    Pittsburgh, Pennsylvania-based Wabtec is a provider of
equipment, systems, and aftermarket services for freight and
transit rail industries.
    Evident's Inspection Technologies division makes remote
visual inspection and analytical instruments for industries such
as railways, mining, and manufacturing.
    “Inspection Technologies will augment our existing offerings
in the rail, mining and industrial sectors while broadening our
reach into other high growth, high margin complementary
sectors,” Nalin Jain, President of Wabtec’s Digital Intelligence
Group said. 
        Evident's Inspection Technologies and Microscopy
divisions were created in 2022 after Olympus Corporation spun
off its Scientific Solutions Division to establish the company.
  
        The deal is expected to be finalized by the end of the
first half of 2025.
  

 (Reporting by Kannaki Deka in Bengaluru; Editing by Saumyadeb
Chakrabarty and Tasim Zahid)
 ((Kannaki.Deka@thomsonreuters.com;))