(Bloomberg) --
Atlantia SpA, the infrastructure firm backed by Italy's billionaire Benetton family, plans to expand in southern Europe with the Siemens AG road-traffic business it agreed to buy this week.
“We want to start up Yunex Traffic business in Italy, Spain and France and approximately double its sales in five years to 1 billion euros,” Atlantia Chief Executive Officer Carlo Bertazzo said in an interview with Bloomberg News.
Bertazzo also sees potential for Yunex to expand into airports, he said Tuesday, a day after the Rome-based firm announced the 950 million-euro ($1.1 billion) acquisition of the maker of traffic lights and associated software systems.
Atlantia, which manages roadways and airports, is hunting for new investments after agreeing to sell Autostrade per l'Italia SpA for about 9.3 billion euros. The sale of Italy's main toll-road system ended a nearly three-year dispute following the deadly 2018 collapse of a bridge in Genoa.
In June, Atlantia said it was targeting the mobility sector as technology and digital services become more important across transportation networks. Earlier this year, the company set aside several million euros to invest in seed capital, coaching for startups and mobility companies.
This week the Benettons' Edizione Srl holding company appointed Alessandro Benetton as its new chairman, and raised its stake in Atlantia to 33% from 31%.
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