Brink's secures buyer for BAX

In order to focus on its security business, Brink's Co. has sold off its BAX Global division to Deutsche Bahn AC, Germany's national railroad. The acquisition of BAX Global, a $2.4 billion logistics company headquartered in Irvine, Calif., strengthens Deutsche Bahn's presence in the United States.

BAX Global moves heavy cargo worldwide via a global network of nearly 500 offices in 133 countries. The purchase price is reportedly about $1.1 billion. "The sale of BAX Global represents an exciting opportunity for the BAX team to join with an industry leader that is committed to being a major long-term player in the field of freight transportation and logistics," says Michael Dan, chairman, president and chief executive officer of The Brink's Co.