Porsche SE Acquires Software Company For Traffic Planning
- Porsche SE acquired 97 percent of shares in the PTV Group
- The German carmaker invested over 300 million euros for the acquisition
- The PTV Group software is used in 120 cities across the world
Hans Dieter Potsch, chairman of the executive board of Porsche SE, said, "With this acquisition, Porsche SE has taken another important step towards creating a complementary portfolio to the existing investment in Volkswagen AG. As a long-term investor, our focus is on the sustainable growth of PTV Group's business, counting on the company's experienced management."
The software company develops intelligent software solutions for transport logistics as well as traffic planning and management that are used by 2,500+ cities in 120 countries across the world. In fact, over one million logistics vehicle trips every day are planned using PTV software.
Other than that, Porsche SE also has a 10 per cent investment in INRIX, a US technology company, and plans to acquire additional strategic investments along the automotive value chain. This includes the entire spectrum of basic technologies from supporting the development and production process through to vehicle- and mobility-related services.
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