Bridgepoint Group PLC and Porsche SE will acquire a majority stake in traffic management company Econolite of Anaheim, the companies said in a statement today.
No financial details were disclosed.
The statement also said that Econolite and traffic management company PTV Group of Karlsruhe, Germany, have joined together in a new partnership.
“Through the cooperation with PTV, we will be able to offer our customers globally even more innovative, efficient, and sustainable products and services in the field of smart mobility,’ said Abbas Mohaddes, president and COO of Econolite.
Econolite is among the largest providers of stoplights in U.S.
Porsche SE of Stuttgart, Germany, is a listed holding company while private investment company Bridgepoint is based in London.
