- Trinity Industries Inc TRN has acquired Quasar Platform Inc. from Cando Rail & Terminals Ltd. Deal terms were not disclosed.
- Quasar is an end-to-end rail logistics software platform providing a real-time data universe to freight rail shippers and operators.
- This transaction will enhance Trinity's digital product portfolio, including Trinsight, by adding additional capabilities like yard management, activity-based costing, and new data visualization tools.
- The acquisition closed on May 26 and is not expected to be material to Trinity's results.
- Trinity plans to retain all of the employees of Quasar as part of the transaction.
- Trinity held cash and equivalents of $351.4 million as of March 31, 2022.
- Price Action: TRN shares are trading lower by 1.44% at $24.63 on the last check Tuesday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.