M&A Update

Thales Completes Sale of Ground Transportation Systems Business

Thales, a global technology leader, has successfully completed the sale of its Ground Transportation Systems (GTS) business, to Hitachi, Ltd, a multinational conglomerate with a presence in information technology, electronics, power systems, social infrastructure, industrial systems, and construction machinery.

The divestment aligns with Thales’ strategic plan to concentrate its resources on three long-term high-technology growth markets: Aeronautics & Space, Defense & Security, and Cybersecurity & Digital Identity.

Our team, together with Baker McKenzie, advised Thales on local aspects of this transaction, comprising Senior Partner Marjan Poljak, Partner Ivan Nonković, and Junior Associate Pavle Vučetić.

Thales is renowned for its commitment to pioneering digital and “deep tech” innovations, including Big Data, artificial intelligence, connectivity, cybersecurity, and quantum technology, employing over 77,000 people across five continents. The GTS business, with a workforce of approximately 9,000 employees, is recognized globally for its expertise in rail signalling and train control systems, telecommunications and supervision systems, and fare collection solutions.

The financial impact of this sale will be reflected in Thales’ second-quarter financial results for 2024, marking a significant milestone in the company’s ongoing strategic transformation.


Partner refers to Independent Attorney at Law in cooperation with Karanović & Partners.

The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.