Two distinct businesses - mobility and logistics - are to be created out of PTV Group, Econolite and Conundra.
Econolite and PTV Mobility will be combined to form the new mobility business, focusing on traffic management and planning, and operating under the new brand name Umovity.
It will be led by Christian Haas, former CEO of PTV, who said the teams "have already been working together closely".
PTV specialises in simulation and predictive modelling software, while Econolite's expertise is in cloud-based adaptive traffic control, real-time traffic management software, controllers, cabinets and sensors - the firms say they will expand R&D capabilities under the Umovity banner.
Meanwhile PTV Logistics will link with Conundra to create the new logistics business, focusing on route planning and optimisation software.
Its boss is Steven De Schrijver, former CEO and co-founder of Conundra.
Rebranding for the logistics business "is in progress and will be announced shortly", said the companies in a statement.
De Schrijver said the goal "is to provide exceptional optimisation tools, that meet and exceed the expectations of the global logistics marketplace.”
All individual brand names will be retained for now.
Abbas Mohaddes, former CEO of Econolite, is now chairman of the advisory board for the mobility and logistics operations.
Mohaddes said: “Our focus remains to be market- and demand-driven, offering superior products and services to better plan and manage our transportation systems, sensitive to the desire and needs of users, travellers and alike."
The restructure is backed by investors Bridgepoint and Porsche Automobile Holding SE.
Carsten Kratz, partner and head of the Dach region at Bridgepoint, said: "This rebranding and reorganisation are the logical next steps in enhancing our growth and our quest for global market leadership. This is a big milestone for us, and we’ll continue to invest in both businesses.”
