Clever Devices to be Acquired by Hitachi Rail

Fried Frank is advising Clever Devices Holdings LLC on its agreement to be acquired by Hitachi Rail Limited, a subsidiary of Hitachi, Ltd. Clever Devices is a provider of intelligent transportation technology for all modes of public transportation to transit agencies in North America, Brazil, Chile and Italy. Hitachi Rail is a provider of rail solutions, including digital mobility and sustainable transportation systems. The proposed acquisition of a company with deep digital expertise and expected 2026 revenues of over $220 million, marks a significant step in Hitachi Rail's strategy to operate as a leading global digital mobility player. Upon completion, Hitachi will extend its footprint from rail to multimodal mobility and strengthen its presence in North America. Read the companies' press release for more information about the transaction.

Corporate partner John M. Bibona, restructuring senior counsel Brad Eric Scheler, and M&A and private equity associates Travis Doyle and Jonathan Mahoney are leading the Fried Frank team.

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