Siemens Mobility has completed its previously announced takeover of the Netherlands-based rail software provider Sqills.

The deal closed more than two months after Siemens Mobility signed a binding agreement to acquire Sqills for $651.84m (€550m), including an earn out.

Moving forward, Sqills will operate as a wholly-owned subsidiary of Siemens Mobility. It will also be managed as a separate legal entity.

Founded in 2002, Sqills provides Software as a Service (SaaS) for inventory management, reservation, and ticketing software. It currently employs 160 people.

The Dutch firm’s product portfolio includes the S3 Passenger online booking system.

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The acquisition was aligned with Siemens Mobility’s plan to develop its software portfolio for digital intermodal and connected mobility solutions.

Siemens Mobility managing director and CFO Karl Blaim said: “With Sqills, we can provide operators with a comprehensive SaaS offering that optimises their key travel processes, including trip searching, inventory, reservation, and ticketing management.

“The SaaS solution helps to increase capacity utilisation of trains through clever pricing, achieve greater utilisation transparency for planning capacities, and the use of a configurable Cloud-based solution significantly reduces costs.”

Sqills managing director Bart van Munster said: “Sqills is excited to explore new ways within the Siemens family to accelerate our go to market into Asia and the Americas, while continue to expand our customer base in Europe.”

Earlier this year, Siemens Mobility acquired RailTerm, a Canada-based provider of rail services to railroads and transit agencies.

The acquisition was expected to facilitate the deployment of new technologies across Canada’s railway networks.