DGAP-Ad hoc: init - innovation in traffic systems AG

DGAP-Adhoc: init innovation in traffic systems AG: init acquires leading German provider of sales and customer management systems for public transport

init innovation in traffic systems AG / Key word(s): Takeover/Takeover

28.09.2016 15:22

Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Karlsruhe/Hamburg, 28 September 2016. With effect from 1 October 2016 init innovation in traffic systems AG (ISIN DE 0005759807) is acquiring HanseCom Public Transport Ticketing Solutions (PTTS) GmbH, the leading provider of sales and customer management systems for public transport in Germany. By making this strategic investment the init Group is expanding its strong position in a dynamically growing market segment and thus sustainably strengthened its expertise in solutions for modern ticketing. The acquisition also brings a number of new major clients in Germany and Austria. This points to an additional revenue potential in the middle single-digit millions range in 2017.

HanseCom PTTS has mobile phone ticketing agreements with over 40 public transport companies that cover around 35 per cent of the area of Germany.

The software developed by HanseCom PTTS helps more than 50 public transport companies to manage, bill and analyse subscriptions as well as ticket sales and follow up on fare dodgers. The numerous interfaces means it can be easily integrated into other products such as init's MOBILEvario, enhancing the product range.

HanseCom PTTS has its registered office in Hamburg and was spun out of the predecessor company HanseCom Gesellschaft für Informations- und Kommunikationsdienstleistungen mbH in an asset deal on 1 May 2016.

28.09.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

--------------------------------------------------------------------------- Language: English Company: init innovation in traffic systems AG Käppelestraße 4-10 76131 Karlsruhe Germany Phone: +49 (0)721 6100 0 Fax: +49 (0)721 6100 399 E-mail: ir@initag.de Internet: www.initag.de ISIN: DE0005759807 WKN: 575980 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service ---------------------------------------------------------------------------