Frankfurt am Main, 13 October 2016 – The international law firm BEITEN BURKHARDT has advised init AG on the takeover of HanseCom Public Transport Ticketing Solutions (PTTS) with effect as of 1 October 2016. The leading group in the field of transport telematics acquires the established provider of distribution and customer management systems for the local public transport (ÖPNV) in Germany from Siemens and Hamburger Hochbahn AG. The parties have agreed not to disclose the transaction volume.

With this acquisition init group has further expanded its strong market position and sustainably strengthens its expertise in providing up-to-date solutions for a modern ticketing. The additional turnover potential estimated for 2017 amounts to a medium one-digit million range due to key account customers in Germany and Austria. In the growth segment handy ticketing alone, HanseCom PTTS has concluded contracts with more than 40 public transport companies, thus covering some 35 percent of the Federal territory of Germany.

Advisor to init AG:
Inhouse: Mathias Engel (Corporate Finance), Legal Department init AG

BEITEN BURKHARDT: Partners Dr. Christof Aha (M&A), Dr. Andreas Lober (IP/IT), Dr. Michael Späthe (M&A), Angela Schilling (Labour Law) and Rainer Süßmann (Banking
and Finance, all Frankfurt).

Contact
Dr. Christof Aha
Phone: +49 69 75 60 95 – 451
E-mail: Christof.Aha@bblaw.com

Public Relations:
Frauke Reuther
Phone: +49 69 75 60 95 – 570
E-mail: Frauke.Reuther@bblaw.com