Itis Holding is to buy machine vision specialist Vitronic Group for an undisclosed sum.
The transaction is subject to review by antitrust authorities in Germany and other countries.
Vitronic, which has interests in traffic enforcement and tolling, will join electronic toll system operators CzechToll and SkyToll, as well as tech company TollNet, under the Itis banner.
Itis specialises in toll collection schemes and is itself is owned by international investor PPF Group, covering the latter's investment activities in intelligent transport infrastructure.
"We are excited to continue our growth as we unite with Itis to enhance our global reach, our research and development capacity and operational competences to better service our clients' needs," says Vitronic CEO Daniel Scholz-Stein.
PPF Group was founded in Czech Republic in 1991, owns €
Itis says it is active in central and eastern Europe, as well as Indonesia and India, while Vitronic has operations in North and South America, Europe, Middle East, Asia, Africa, and Oceania.
