Porsche Buys Stake in Traffic Info Service

Porsche Automobil Holding SE has acquired a 10% stake in U.S.-based traffic mapping company Inrix Inc.

The holding company says the purchase is a bet on the potential growth of connected-car services in the next several years. Inrix is a worldwide mapper of traffic and related data services. It calculates real-time traffic reports from users whose vehicles transmit continuing reports about their movements to the company.

The $55 million (€42 million) investment in Inrix is Porsche SE's first from the €2.6 billion in cash it amassed by selling its Porsche AG sports car company to Volkswagen AG in 2012.

Porsche SE said last month it plans to broaden its portfolio by buying stakes in small and midsize automotive-related companies. The company reportedly is hunting for about 12 such investments.