Siemens announces agreement to acquire Canadian network supplier RuggedCom Inc.
Siemens has entered into an agreement with RuggedCom Inc. to acquire all of the issued and outstanding common shares of RuggedCom by way of a friendly, board-supported takeover bid. The Canadian company listed on the Toronto Stock Exchange is a provider of communications and networking solutions used in power distribution, in refineries or in traffic control systems for harsh industrial environments. "RuggedCom's portfolio would be an ideal addition to our range of industrial Ethernet communication products, improving our industrial-quality router and switch offering. In addition, the acquisition would improve our footprint in the North America and the Asia-Pacific region," said Anton S. Huber, CEO of the Siemens Industry Automation Division.