German traffic technology and automation provider Vitronic is to be fully acquired by ITIS Holding – the parent company of tolling technology companies SkyToll and CzechToll – for an undisclosed amount.
Headquartered in Wiesbaden, Germany, Vitronic – a sponsor of this year’s Road User Charging Conference – operates in more than 80 countries around the world, employing approximately 1,400 people.
The company offers tolling and enforcement solutions, smart city technologies, and advanced automation solutions for a variety of industrial applications and, in 2022, recorded sales of more than €208m (£177m).
The acquisition aims to solidify ITIS Holding’s position in the intelligent traffic solutions market, extend and enhance its portfolio of various technologies, strengthen its R&D and innovation capabilities, and provide a stronger base for further growth.
ITIS Holding itself is part of PPF Group, which operates in 24 countries and invests in financial services, telecommunications, media, e-commerce, and other sectors, including real estate, biotechnology and transportation.
PPF is a majority shareholder of Skoda, a leading European manufacturer of public transport vehicles.
Commenting on the acquisition, Matej Okáli, chairman of the board and CEO of ITIS Holding, said: “Together, ITIS and Vitronic cover a comprehensive range of transport technologies, from intelligent transport infrastructure to infrastructure charging, traffic safety and automation.
“We will support the growth and success of Vitronic, delivering advanced solutions and top services globally.”
Vitronic’s presence in North and South America, Europe, Asia, Africa and Oceania complements ITIS Holding’s footprint in the Central and Eastern European region, in South East Europe, Indonesia and India.
The completion of the transaction is subject to regulatory approvals from antitrust authorities in Germany and other relevant countries.
You can learn more about the key trends and challenges affecting senior decision makers who have responsibility for tolling, intelligent transportation systems and road pricing across the world at the 21st annual Road User Charging Conference in Brussels, Belgium on 05-06 March 2024. Click here for more information