According to foreign media reports, Porsche SE (PorscheSE) acquired PTV Group for more than 300 million euros (about 336 million US dollars), which is the main developer of transport software and services in the industry.
PTV Group is engaged in software development and provides customers with transportation planning and logistics services. It has more than 700 professionals worldwide. This M&A is part of a long-term investment strategy because Porsche Automotive Holdings anticipates that there will be greater potential for business growth after optimizing passenger flow and logistics. Passenger flow and logistics are precisely the core competitiveness of PTV Group.
In the past few years, PTV Group has grown well in terms of revenue, with double-digit growth rates. After the transaction is completed, the business management will continue to be delivered to the PTV Group's experienced management team.
Porsche Holdings is a listed company and Volkswagen holds 52.2% of its shares. The company also plans to invest in American technology company Inrix and hold 10% of its shares.
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