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News » International » Porsche takes over transport specialist » published 9 Jun 2017

Porsche takes over transport specialist

Traffic and transport specialist PTV Group has been bought by Porsche Automobil Holding SE for €300m (£260m).

More than 700 people work worldwide for PTV Group, which develops software and provides consultancy for transport planning and logistics.

The acquisition is part of a long-term investment strategy for Porsche SE, which sees growth potential in the optimisation of the flow of people and goods.

PTV Group CEO Vincent Kobesen said: “We have now found the right strategic investor for our company. This allows us to remain independent and helps us reach our ambitious goals for the upcoming years.”

PTV Group generated €93m in the 2015/16 financial year; its results for 2016/17 will be published shortly. Kobesen added:  “For the first time in company history, we will cross the €100m hurdle."

The management team at PTV will continue to manage business operations.

More than 2,500 cities already use PTV products and over one million vehicles a day make transport runs planned with PTV software, said the company. Its traffic simulation software was used at the Olympic Games in London. And the European transport model, which encompasses all passenger transport and freight movements in Europe, is developed using PTV software.  







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This article was published on 9 Jun 2017 (last updated on 9 Jun 2017).

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