The takeover of the software manufacturer PTV Group has not been a success story for the Stuttgart-based Porsche Automobil Holding. A new strategy should now bring about the turning point.
Stuttgart – When the Porsche Automobil Holding bought the PTV Group three years ago for 300 million euros, Philipp von Hagen went into raptures. The software manufacturer from Karlsruhe was a “pearl”, said the Porsche board member responsible for investments at the time. Von Hagen had been criticized for years because, despite full coffers and an intensive search, he apparently could not find a large, worthwhile investment in the automotive business. Now he could report execution. With the holdings, a strong revenue pillar should actually be built up at the Stuttgart financial holding, which primarily manages the stake in the Porsches and Piëchs in the car manufacturer VW. To date, the PTV Group is by far the largest investment by the holding company looking for new investments. However, this takeover has so far been anything but a success story.