Stuttgart, 15 September 2017. Porsche Automobil Holding SE (Porsche SE), Stuttgart, has now closed the acquisition of nearly 100 percent of PTV Planung Transport Verkehr AG (PTV AG), Karlsruhe, Germany, announced in June. PTV AG is a leading provider of software for traffic planning and management as well as transport logistics. The acquisition was subject to a condition precedent and took effect at the beginning of September 2017. The aggregate investment amounts to more than 300 million euro. This will result in a corresponding cash outflow for Porsche SE in the third quarter of 2017.
Porsche SE intends to continue to operate the business as an independent company. The financial year of PTV AG (31 March) will be changed to the calendar year.
Further information on both companies can be found on Porsche SE’s homepage at www.porsche-se.com as well as on the PTV Group’s homepage at www.ptvgroup.com.