FILE PHOTO: The logo of German industrial group Siemens is seen in Zurich, Switzerland, January 30, 2019. REUTERS/Arnd Wiegmann/File Photo
ZURICH (Reuters) - Siemens is buying rail software company Sqills, the German engineering and technology company said on Thursday, its latest acquisition to expand into high growth markets outside its core activities.
The trains-to-industrial software maker will pay an initial 550 million euros ($651.09 million) for Sqills, a software as a service provider, whose cloud-based products include inventory management, reservation and ticketing software.
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