Volvo's Venture Capital Arm Invests in Transportation Software Developer
July 05 2022 - 10:03AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish truck maker Volvo AB said Tuesday that its
venture capital arm has invested in Optibus Ltd., a company that
develops optimization software for public transportation planning
and management.
"Volvo Group Venture Capital's investment in Optibus accelerates
the digitalization and electrification of the global public
transportation sector," it said.
"Advanced software solutions are key for cities and bus
operators to take advantage of the market development. Optibus and
Volvo Group will collaborate to create mutual strategic learnings
and growth opportunities," it added.
The Optibus solution is in use in 1,000 cities in 26 countries
across North and South America, Europe, the Middle East and Africa,
and Asia Pacific.
Financial terms weren't disclosed, but Volvo said the deal has
no significant effect on its earnings or financial position.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
July 05, 2022 09:48 ET (13:48 GMT)
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