PTV Group, Econolite, Conundra, along with backers – Bridgepoint, the quoted private assets growth investor, and Porsche Automobile Holding SE have announced the further integration and strategic reorganization of PTV, Econolite, and Conundra into two strong and distinct businesses serving their respective end markets mobility and logistics.
Under the new mobility brand Umovity, Econolite and PTV Mobility are integrating their respective resources and expanding their Research and Development (R&D) capabilities to deliver innovative and cost-effective solutions aligned with the needs of traffic and mobility planning and operating management agencies worldwide. From hardware to software, and services including traffic planning, simulation, and optimization, as well as maintenance of Smart Mobility systems, Umovity will serve as the One-Stop-Shop for smart and sustainable mobility solutions.
In order to form a new pure-play software Logistics business, PTV Logistics and Conundra are integrating their respective resources to offer state-of-the-art software solutions for route planning and optimization with best-in-class algorithms and data, as well as additional use cases to enhance savings in logistics costs and emissions. Rebranding for Logistics is in progress and will be announced shortly.
Structure and leadership is as follows:
- PTV Mobility and Econolite merge to form the industry’s premier ITS systems provider Umovity, to be led by newly appointed CEO, Christian U. Haas, formerly CEO of PTV.
- The PTV Logistics group joins forces with Conundra to form a global software provider for logistics solutions in route planning and optimization. This combined group will be led by newly appointed CEO, Steven De Schrijver, former CEO and Co-founder of Conundra.
- Abbas Mohaddes, former CEO of Econolite is appointed to Chairman of the Advisory Board for both businesses.
Abbas Mohaddes, Chairman of the Advisory Board, said “Our focus remains to be market and demand driven, offering superior products and services to better plan and manage our transportation systems, sensitive to desire and needs of users, travelers and alike. We are committed to embrace Environmental, Social, and Governance (ESG) in support of global Mobility for Humanity.”
Carsten Kratz, Partner, and head of the DACH region at Bridgepoint, added “We made great progress during 2022 with the integration of PTV and Econolite, while acquiring Conundra and other enhancing assets. This rebranding and reorganization are the logical next steps in enhancing our growth and our quest for global market leadership. This is a big milestone for us, and we’ll continue to invest in both businesses.”
Lutz Meschke, member of the board of management responsible for investment management at Porsche SE, stated “The new strategic setup of the mobility and logistics businesses marks yet another important milestone in the development of PTV, Econolite, and Conundra. We look forward to further supporting the development of both businesses.”
Christian U. Haas, Umovity Chief Executive Officer, commented “I am excited about the forthcoming opportunities and in knowing we will seize these opportunities with an outstanding expanded staff. Econolite and PTV team members have already been working together closely and will continue in development of innovative products and services and go to market strategies.”
Steven De Schrijver, Logistics group, Chief Executive Officer, added “ Our goal is to provide exceptional optimization tools, that meet and exceed the expectations of the global Logistics marketplace.”