Hitachi Rail Acquires Clever Devices

Hitachi — Hitachi Rail has entered into a definitive agreement to acquire Clever Devices, a leading U.S.-based provider of Intelligent Transportation Systems. This strategic acquisition aims to expand Hitachi — Hitachi Rail's digital mobility footprint beyond rail into the wider public mobility space and strengthen its presence in North America. Clever Devices, with projected 2026 revenues of over $220 million and a customer base including 8 of the 10 largest North American transit agencies, brings deep digital expertise and a robust portfolio of solutions. The acquisition will complement Hitachi — Hitachi Rail's HMAX Mobility suite, offering enhanced solutions for fleet management, passenger experience, and operational efficiency across various public transport modes, including buses and railways. The transaction is subject to customary conditions and regulatory approvals, with JPMorgan Chase and Ropes & Gray LLP advising Hitachi — Hitachi Rail.