Sanef acquisition offer for CS ITS business

France-headquartered tolling system specialist 6420 CS has announced that it has received a binding offer from 480 Sanef Group to acquire its ITS business unit. The deal would allow CS ITS, which employs some 220 people and registered € 31.4 million (US$38.96 million) revenues in 2011, to take full advantage of a growing tolling system market. The company says it will initiate consultation with its workers council representatives with a view to finalising the acquisition.