SWARCO, the market leader in the Nordic ITS market, has acquired the Danish company TTS effective 16 April 2014. TTS, so far owned by energy provider NRGi, is one of the leading companies in the Danish market for traffic control and intelligent transport systems. Both parties agreed not to disclose the purchase price.
Hans Petter Ødegaard, Oslo-headquartered SWARCO NORDIC Managing Director, regards the acquisition as an important step to consolidating and expanding SWARCO’s leading position in Denmark and beyond. ”With the acquisition of TTS we have reinforced our presence and prepared for further long-term growth in the Danish market. We have achieved a constant annual growth in the Nordic ITS market over the past 10 years and are convinced that the acquisition of TTS will further contribute to this development”.
NRGi, owner of TTS since 2008, is happy with the choice of SWARCO as the new owner. ”We have looked for a strong partner capable of further developing the activities in TTS, and for us SWARCO is the best choice. We are also looking forward to extending the cooperation with SWARCO in other areas, especially in combined projects and activities together with our daughter company EL:CON”, says NRGi Managing Director Søren Sørensen.
TTS currently employs a staff of 35, with offices in Glostrup and Odense. SWARCO in Denmark employs 39 people with the main office in Skovlunde. The activities of TTS will be integrated with SWARCO’s operations in Denmark. SWARCO DANMARK Managing Director Søren Kolding looks forward to the new power arising from the complementary competence and customer base. ”The acquisition will make us able to utilize the strengths of both companies and shape the new market leader in Denmark with a full range of advanced ITS solutions and services, based on innovation and dedicated customer focus.”
SWARCO – the Austrian-based traffic technology corporation of Tyrolean entrepreneur Manfred Swarovski – is an international group providing the complete range of products, systems, services and solutions for road safety and intelligent traffic management. With almost five decades of experience in the industry, SWARCO supports the growing mobility needs of society with turnkey systems and solutions in road marking, urban and interurban traffic control, parking, public transport, detection, infomobility and energy-efficient, LED-based signaling and lighting technology. The Group consists of roughly 70 companies in 24 countries with a total staff of nearly 2500 employees and annual revenues of almost half a billion Euro.
About TTS (TECHNICAL TRAFFIC SOLUTIONS A/S)
TTS is one of the leading companies in the Danish traffic management market and specializes in Urban Traffic Control solutions and services. TTS generates 7.5 MEUR in turnover and employs 35 people in Glostrup and Odense.
Contacts for further information:
Hans Petter Ødegaard
M. +47 92241600
SWARCO DANMARK A/S
M. +45 51375007