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Benzinga
Benzinga
Business
Akanksha Bakshi

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

Trinity (Organization) Quasar (Topic) TRN NYSE
  • 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.
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