Porsche SE Buys PTV Group in €300 Million Deal
7th June 2017
Porsche Automobil Holding SE (Porsche SE) has acquired leading traffic and transport specialist, PTV Planung Transport Verkehr AG (PTV Group), for a purchase price in excess of €300 million.
PTV develops software and provides expertise for transport planning and logistics. The acquisition is part of a long-term investment strategy and Porsche SE sees considerable growth potential in the optimisation of the flow of people and goods.
Vincent Kobesen (right), CEO of PTV Group, 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 says it has seen a positive revenue development and attained double-digit growth rates in the past few years. “For the first time in company history, we will cross the 100 million euro hurdle,” he added.
The team at PTV will continue to manage business operations.
There is currently a strong demand worldwide for state-of-the-art technology in the buzz-sector of mobility. Over one million vehicles daily make transport runs planned with PTV software, it says. PTV’s traffic simulation software was used at the Olympic Games in London, while the European transport model, which encompasses all passenger transport and freight movements in Europe (EU Commission project Trimode), is developed using PTV software.