International mobility and logistics software company PTV Group has announced the integration of the Belgian route planning software provider Conundra into its global logistics portfolio.
It says by joining forces with Conundra, PTV is pursuing its global consolidation course and further strengthening its logistics offering. Combining Conundra’s state-of-the-art Software as a Service product with PTV’s software solutions for route planning and optimisation will open new opportunities for innovation and growth.
Since its foundation in 2013, Conundra has grown from a team of 2 to 65 people developing innovative logistics planning software. PTV says Conundra’s cloud-data platform OptiFlow is characterised by very fast algorithms and automation, delivering additional transport cost reductions through continuous improvement, even in complex environments.
“The demand for efficient solutions in route planning and optimisation is increasing – not least due to the steady growth in e-commerce,” explain PTV in a statement. “In 2020, the freight forwarding market was sized at around 161 billion euros and is expected to increase by around 5% annually, up to 207 billion euros by 2025 (source Statista). By bringing their technologies together, PTV Group and Conundra will create a strong, new logistics division and expand their leading market position by tackling a larger part of the logistics value chain. This will further accelerate PTV Group’s SaaS product offering and keeps it ahead of the market in terms of algorithm quality. The new logistics division will serve a broader customer base and offer both existing PTV and Conundra customers improved algorithms and data as well as additional use cases to enhance savings in costs and emissions”.
“Conundra is a dynamic, fast-growing company. Their founders Steven De Schrijver and An De Wispelaere have shared a profound passion for optimization for many years and succeeded in bringing a solution to the market that stands out for its algorithms and speed,” says Christian U Haas, CEO of PTV Group. “I’m excited about this new endeavour for Conundra and PTV. From now on, the smartest minds in logistics software development will be working together, continuing to deliver highest quality solutions, and taking transport planning processes to the next level.”
Steven De Schrijver and An De Wispelaere add: “PTV is a world-class leader in logistics that we’ve met on multiple occasions in commercial trajectories. In each of these encounters, we were impressed by the maturity and global reach of their organization and team. Being able to infuse their state-of-the-art software and map technologies with Conundra’s unprecedent algorithmic power, unlocks a great opportunity to make a true dent in the logistics universe, both ecologically and economically.”
Carsten Kratz, Partner and Head of DACH at Bridgepoint, said: “After strengthening PTV Mobility with the acquisition of Econolite in March, PTV continues on its consolidation path on the logistics side: following the addition of Axylog in summer, we are now delighted that Conundra is joining the group. Conundra and PTV Logistics complement each other optimally in terms of customer segmentation, data access and algorithm capabilities. Going forward, it will remain our ambition to build two distinct market leaders – one in intelligent traffic simulation and management, and one in logistics route optimisation – by further enhancing both the Mobility and Logistics businesses.”
The partners have agreed not to disclose financial details of the transaction.
(Picture – PTV)