Porsche and Bridgepoint to acquire Econolite Group.

Porsche, a German automobile manufacturer, and Bridgepoint, a pan-European private equity investor, agreed to acquire Econolite Group, a firm that delivers solutions that ease traffic congestion, provide safer mobility and improve the quality of life for the driving public. Financial terms were not disclosed. “By joining the forces of PTV and Econolite, we are creating a technology leader that covers the entire value chain for smart and sustainable mobility solutions. The products of the two companies match well together. What is more, the combined group is now a truly global player with a leading position in both Europe and the US," Lutz Meschke, Porsche Board Member.