Porsche AG and Axel Springer Digital Divisions to Set Up Startup Accelerator
20 November 2017 - 10:45AM
Dow Jones News
By Anthony Shevlin
The digital divisions of Axel Springer SE (SPR.XE) and Porsche
AG said Monday that both companies have signed an agreement to set
up a joint startup accelerator in which each holds a half
share.
Porsche AG said the aim of the startup accelerator will be to
support digital business ideas that have high market potential and
the chance to change the sector in which they operate. The German
company said that the accelerator will be operational in spring
2018, and is open to further partners.
Porsche AG is a German automobile manufacturer and is owned by
Volkswagen AG (VOW.XE).
The setting up of the joint venture is subject to approval from
the relevant antitrust authorities.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
November 20, 2017 05:30 ET (10:30 GMT)
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