Continue their Integration by Creating Two Strong and Distinct Businesses, Mobility and Logistics
The formation of two distinct businesses allows for a precise focus on the independent sectors of Mobility and Logistics. Bridgepoint and Porsche SE are backing the integration of PTV, Econolite, and Conundra to drive global innovation in smart transportation.
Bridgepoint and Porsche SE supported PTV, Econolite, and Conundra to join forces in 2022. Now, they back the further integration into two distinct businesses: Mobility and Logistics. Specifically, this strategic reorganization allows for a precise focus on each independent sector. The Mobility group focuses on accelerating end-to-end, smart, and sustainable traffic management. Consequently, this drives innovation in safety-critical areas for multimodal travelers. Meanwhile, the Logistics group focuses on optimizing supply chains to reduce costs and emissions.
Official Integration Announcement
Econolite and PTV Mobility will be combined to form the new Mobility business. This group operates under the brand Umovity, led by newly appointed CEO, Christian U. Haas. PTV Logistics and Conundra will be combined to form the new Logistics business. Rebranding is currently in progress for this group. Steven De Schrijver, formerly of Conundra, will lead this business as CEO. Furthermore, Abbas Mohaddes is appointed to Chairman of the Advisory Board for both distinct businesses.
PTV (Karlsruhe), Econolite (Anaheim), and Conundra (Brussels) announced the reorganization today. Supported by Bridgepoint and Porsche SE, these groups will serve their respective end markets. Under the new Mobility brand Umovity, Econolite and PTV Mobility are integrating their resources. Specifically, they are expanding Research and Development (R&D) capabilities to deliver cost-effective solutions. Consequently, 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 also integrating. They offer state-of-the-art software for route planning with best-in-class algorithms. Rebranding for Logistics will be announced shortly.
Leadership and Structure of the Distinct Businesses
Carsten Kratz of Bridgepoint added: “This reorganization is the logical next step in our quest for global market leadership. It is a big milestone, and we’ll continue to invest in both distinct businesses.”
Lutz Meschke of Porsche SE noted: “The new strategic setup marks yet another important milestone. We look forward to further supporting the development of both businesses.”
Christian U. Haas commented: “I am excited about the forthcoming opportunities. Our expanded staff will continue in the development of innovative products.”
Finally, Steven De Schrijver added: “Our goal is to provide exceptional optimization tools that exceed the expectations of the global Logistics marketplace.” This integration ensures our distinct businesses remain at the cutting edge of their respective industries.
ABOUT Umovity (PTV Mobility & Econolite)
Umovity is a global market leader for end-to-end traffic management and transportation technology that takes a holistic approach to provide safer, smarter, and more sustainable Mobility for Humanity. Uniting the best-in-class solutions for intelligent traffic management systems, cloud-based adaptive traffic control, real-time traffic management software, controllers, cabinets, and sensor products by Econolite, and simulation and predictive modelling software by PTV, Umovity enables innovators and decision makers in politics, municipalities, and industry to shape smart and livable communities, multimodal mobility, as well as Connected and Autonomous Vehicles (CAV). For more information, visit www.umovity.com.
ABOUT PTV Logistics (PTV Logistics & Conundra)
PTV Logistics is a leading global software company for planning, calculating, and optimizing transport logistics to save time and costs. With more than 40 years of experience and record-breaking algorithms in route planning and tour optimization, the software empowers logistics companies to realize the theoretical savings potential of route planning automation in practice. For more information, visit https://lp.myptv.com/en/logistics
ABOUT Bridgepoint
Bridgepoint Group, PLC, is the world’s leading quoted private assets growth investor focused on the middle-market with over €30 billion AUM and a local presence in the US, Europe, and China. Bridgepoint specializes in private equity and private credit and invests internationally in six principal sectors – Business Services, Consumer, Financial Services, Healthcare, Advanced Industrials, and Technology.
Media contacts:
Persephone Oliver
persephone.oliver@umovity.com
Janine Stuchl
janine.stuchl@umovity.com
