Cordel agrees to GBP29 million cash acquisition by Germany's Vossloh

(Alliance News) - Cordel Group PLC on Wednesday said it has agreed to be acquired by Werdohl, Germany-based railway infrastructure company, Vossloh AG, in a GBP29 million all-cash deal.

The London-based transport corridor analytics platform said the acquisition is being undertaken via Vossloh's subsidiary, Vossloh Digital Solutions GmbH.

Under the terms, Vossloh is set to pay 12.4 pence in cash for each Cordel share held, valuing the company at around GBP29 million on a fully-diluted basis.

Shares in Cordel shot up 92% to 11.50 pence on Wednesday afternoon in London.

The two companies developed a joint pilot project back in 2025 in continental Europe to assess the technical feasibility of the combination, with Vossloh stating that it sees "significant potential" which has been demonstrated by the partnership.

Vossloh expects the combination to generate "significant strategic and operational benefits" for both companies. These include access to large markets, highly complementary capabilities, material synergy potential and alignment in engineering excellence.

The acquisition is intended to be implemented by way of a court sanctioned scheme of arrangement, and is conditional upon Cordel shareholder support as well as other conditions.

The companies expect the transaction to close in the third quarter of this year, subject to the satisfaction of the relevant conditions.

"Cordel has built a strong track record since 2019, deploying sophisticated AI-driven hardware and software that is transforming how railway networks capture, analyse and act on large datasets. Joining Vossloh - an established group with a global footprint - means we can work more closely with Vossloh to do significantly more for our customers through collaborative opportunities, greater investment capacity, broader geographical reach and long-term stability," comments Cordel Chair Ian Buddery.

By Christopher Ward, Alliance News reporter

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