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Rail News: Railroading Supplier Spotlight
Wabtec acquires Track IQ
Wabtec Corp. announced today it has acquired the assets of Track IQ, a manufacturer of wayside sensor systems for the global rail industry.
Track IQ’s products use acoustic sensors on the track to monitor and measure the operating condition of bearings and wheels on freight- and passenger-rail vehicles. These products provide data that the railroads use to improve preventive maintenance and safety performance.
Track IQ systems have been installed at more than 150 locations around the world. The Australia-based company's annual sales are an estimated $15 million, according to a Wabtec press release.
"With its core sensor technology, Track IQ expands our capabilities into an important segment of the wayside market," said Wabtec President and Chief Executive Officer Raymond Betler. "We see opportunities to integrate the company’s sensors into Wabtec's existing train control, signaling and electronics product offerings. In addition, we can leverage Track IQ’s technology and expertise as we develop enhancements and additional features for our train control products."
The press release did not disclose the acquisition's financial details.
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