ITIS Holding has received all necessary regulatory approvals from antitrust authorities in Germany and other relevant countries to acquire German VITRONIC Group. Continuing to develop R&D and production capabilities within VITRONIC’s facilities in Germany, ITIS Holding is ready to accelerate the entire group’s growth, aiming to establish itself as a leading ITS provider with global reach.
ITIS Holding and VITRONIC complement each other perfectly in terms of the solutions provided and regional reach. The complementarity of both companies allows the creation of a strong end-to-end ITS and automation provider with a comprehensive range of sustainable solutions for urban mobility, tolling, road safety, traffic enforcement and automation, with delivery capabilities almost anywhere in the world.
“ITIS Holding offers a proven best-in-class satellite tolling solution, while VITRONIC is a global leader in road safety and automation segment using innovative machine vision technology. We approach the acquisition of VITRONIC as a long-term strategic investment. By connecting these two leaders from several industries, our ambition is to grow the entire group into a globally successful, large-scale ITS provider,” stated Matej Okali, CEO of ITIS Holding.
Upon the formal completion of the transaction, ITIS Holding will significantly enhance VITRONIC’s capital structure by contributing 50 million euros.
“This year, VITRONIC celebrates 40 years since its founding. Building up on this, I am confident that with the new ownership, the best years are still ahead for both traffic and automation industries. The complementarity between our solutions, products, software and services allows us to present our customers with a significantly broader range of advanced technological solutions. All of this continues to be supported by the esteemed ”German Engineered” concept,“ said Daniel Scholz-Stein, CEO of VITRONIC.
ITIS Holding is committed to developing VITRONIC’s business and maintaining continuity for both existing and new customers. Both ITIS Holding and the PPF Group are ready to accelerate the growth of the entire group by helping VITRONIC enter new markets or better serve existing ones.
