Porsche buys logistics software firm PTV for €300m
June 20, 2017
German automotive company Porsche Automobil Holding SE (Porsche SE) is acquiring via a subsidiary around 97 per cent of shares in PTV Planung Transport Verkehr, a provider of software for transport logistics and traffic planning and management. The investment amounts to more than €300m.
“With this acquisition, Porsche SE has taken another important step towards creating a complementary portfolio to the existing investment in Volkswagen AG,” said Hans Dieter Pötsch, chairman of the executive board of Porsche SE. “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, based in Karlsruhe, has some 700 employees at 20 locations worldwide. PTV software is installed in more than 120 countries. For the fiscal year 2015-16, PTV Group revenue was €93m. For the coming years it expects continuing double-digit growth.
“PTV Group has a well-established and profitable business model in place,” said Philipp von Hagen, executive board member for investment management of Porsche SE. “The 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 optimising flows of people and goods.”
The company develops smart software for transport logistics as well as traffic planning and management. PTV products are used by more than 2500 cities. More than one million logistics vehicle trips per day are planned using PTV software. The software helps cities and companies save time and money, enhance road safety, and reduce the impact on the environment.
Porsche SE is a listed holding company. It holds 52.2 per cent of the ordinary shares in Volkswagen AG. In addition to this core investment, it has a ten per cent investment in the US technology company Inrix and plans to acquire additional strategic investments along the automotive value chain. This comprises the entire spectrum of basic technologies from supporting the development and production process through to vehicle- and mobility-related services.
The transaction is inter alia subject to the approval of the antitrust authorities.