Siemens plans to acquire Invensys Rail for €2.2bn

Siemens has entered into an agreement to acquire Invensys Rail, the rail automation business of Invensys, for approximately €2.2bn (£1.7bn).

The company is also planning to divest its baggage-handling, postal and parcel-sorting activities.

Both planned transactions are part of the recently launched Siemens 2014 programme, which is aimed at strengthening the company’s core activities.