ITIS Holding has signed an agreement to acquire VITRONIC Group, an industrial image processing company from Germany. The completion of the transaction is subject to regulatory approvals from antitrust authorities in Germany and other relevant countries.
ITIS Holding focuses on the technology development for transport infrastructure and automation. ITIS Holding is a part of PPF Group, a Czech investment firm founded in 1991. With 52,000 employees, the group operates in 25 countries globally and invests in telecommunications, media, financial services, e-commerce, real estate, mechanical engineering, and biotechnology.
Founded in 1984, VITRONIC has been operating in the field of industrial image processing for almost 40 years. With activities in traffic control, toll systems, and industrial automation, VITRONIC is represented worldwide in numerous industries and markets. The company operates worldwide with around 1,400 employees.
EY supported ITIS Holding in the acquisition with financial and tax due diligence as well as tax structuring support in multiple jurisdictions.
The EY tax team was led by Dr. Philipp Kühner and further included Daniel Löblich and Leif Weimann. Dr. Erik Lehmann, Ersin Oezpolat and Esther Brand carried out the financial due diligence services.
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