Progress Rail acquires Inspired Systems

Progress Rail Services Corp. announced yesterday it has acquired Australia-based Inspired Systems Pty Ltd. in an effort to expand its signal technology portfolio.

Inspired Systems provides asset protection and condition-based monitoring systems for the rail industry. Its headquarters are in Canning Vale, a suburb of Perth in Western Australia.

The acquisition is a "natural fit" for Progress Rail, as it will expand the company's presence in the global signal and communications segment, said Dave Roeder, Progress Rail's senior vice president of engineering and track services, in a press release.

"We've collaborated with Inspired since 2010, and they have made great strides to meet the needs of customers in the region, paying special attention to the rugged environment and creating products and services that can easily adapt," said Roeder.

For Inspired Systems, the acquisition will help it to pursue bigger projects in Australia, as well as expand into the United States and South America.

The acquisition closed yesterday. Financial terms were not disclosed in the press release.