Stuttgart, 14 March 2022. Porsche Automobil Holding SE (Porsche SE), Stuttgart, and Bridgepoint Advisers Limited (Bridgepoint), London, UK, jointly acquire Econolite Group (Econolite), Anaheim, California, USA. Together with the joint portfolio company PTV Planung Transport Verkehr GmbH (PTV), Karlsruhe, Germany, this will create a fully integrated provider of market leading mobility solutions.
Econolite’s product portfolio, which is complementary to PTV’s software solutions, primarily comprises hardware and software solutions in the area of traffic management. In the US, more than 150,000 Econolite controllers are installed at over 57,000 intersections. In addition, more than 400 traffic agencies use the company’s traffic management software. This makes Econolite the leading provider of traffic management solutions in North America. Econolite operates from a total of five locations in the US, Mexico and Canada.
Lutz Meschke, member of the board of management responsible for investment management at Porsche SE: “By joining the forces of PTV and Econolite, we are creating a technology leader that covers the entire value chain for smart and sustainable mobility solutions. The products of the two companies match well together. What is more, the combined group is now a truly global player with a leading position in both Europe and the US.”
Under the umbrella of a new mobility and logistics holding, PTV and Econolite will accelerate their growth and drive consolidation in a largely fragmented market. The main focus of the holding will be on intelligent and sustainable end-to-end traffic management solutions, ensuring efficient mobility as well as the optimization of supply chains.
Together, the two companies have around 2,000 employees and are active in over 120 countries worldwide. The existing shareholders of Econolite are convinced of the potential of the combined group and will therefore retain a minority shareholding in the new group. The transaction, which is subject to regulatory approvals, is scheduled to complete by mid-2022. The parties have agreed not to disclose the purchase price.
PTV is a leading software company for mobility planning, simulation and real-time management, as well as a provider of optimization solutions for transport logistics.