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Trinity Industries Acquires This Rail Logistics Software Platform - Read More For Details

BY Benzinga
— 11:29 AM ET 05/31/2022
  • Trinity Industries Inc NYSE: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.

More TRN News

  • BRIEF-Trinity Industries, Inc. Announces The Acquisition Of Quasar Platform
    Reuters - 7:11 AM ET 05/31/2022
  • Trinity Industries, Inc. Announces the Acquisition of Quasar Platform
    Business Wire - 6:55 AM ET 05/31/2022
  • BRIEF-Trinity Industries Inc's Subsidiary And Others Entered Into A Note Purchase Agreement
    Reuters - 5:52 PM ET 05/23/2022
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