Porsche Automobil Holding SE (Porsche SE) has acquired one of the market’s leading developers of traffic and transport software and services, the PTV Group, for a purchase price in excess of 300m (US$336m).
The PTV Group develops software and provides expertise for transport planning and logistics, employing more than 700 mobility experts worldwide. The acquisition is part of a long-term investment strategy and Porsche SE sees considerable growth potential in the optimization of the flow of people and goods, which is precisely where PTV’s core competence lies.
PTV Group has seen a positive revenue development and attained double-digit growth rates in the past few years. The company generated 93m (US$1bn) in the 2015/16 fiscal year. The experienced management team at PTV will continue to manage business operations after completion of the transaction.
Based in Karlsruhe, Germany, PTV’s software is used in over 2,500 cities in more than 120 countries worldwide, and over one million vehicles daily make transport runs planned with PTV systems. PTV’s traffic simulation software was used at the 2012 Olympic Games in London, and the European transport model, which encompasses all passenger transport and freight movements in Europe, is developed using PTV software.
Vehicle manufacturers, service providers, logistics service providers, technology suppliers and urban planners are also interested in new mobility services, such as Mobility-as-a-Service (MaaS). PTV has developed a special program that covers a whole portfolio of MaaS technologies, from planning to the operation and control of MaaS systems worldwide.
Porsche SE is a listed holding company, with 52.2% of the ordinary shares in Volkswagen. The company also has a 10% investment in the US technology company Inrix, and plans to acquire additional strategic investments along the automotive value chain, comprising the entire spectrum of basic technologies geared to supporting the development and production process, through to vehicle- and mobility-related services.
Vincent Kobesen, CEO of PTV Group, welcomes Porsche SE’s move, commenting, “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.”
Philipp von Hagen, board member for investment management at Porsche SE, added, “The PTV Group operates at the interface of key trends we consider to be of particular relevance for the future development of the mobility landscape. We see substantial growth potential in the area of optimizing flows of people and goods.”