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Q-Free closes the acquisition of Open Roads Consulting

Open Roads Consulting is a privately owned company established in 2000 in Virginia, USA. The company has 74 employees and operates mission critical traffic deployments and video based surveillance of critical assets in 30 states in the US.

-We are happy to close the Open Roads transaction, and are eager to move ahead. The acquisition of Open Roads Consulting represents a milestone for Q-Free. Over time the company will become a global fully-fledged ITS player with significant presence in the US. The current acquisition is a strategic good match with other ATMS and RUC activities within the group, and Q-Free’s number of employees in the US increases to approximately 100 and we intend to build from here. Open Roads Consulting’s software solutions will be a valuable addition to Q-Free’s offering of ATMS solutions both in the US and internationally, says CEO Thomas Falck.

Q-Free’s ATMS business has been strengthened substantially over the last couple of years. Q-Free acquired the US based parking guidance company TCS International in 2012, and followed-up with the acquisition of the Serbian traffic management company ELCOM and a strategic 10 percent investment in Intelight in the US in 2013. The acquisition of Open Roads Consulting is the third acquisition in 2014, following the inclusion of TDC Systems in the UK and Traffic Design in Slovenia into the Q-Free Group earlier this year.

For further information, please contact:

CEO Thomas Falck, cell: +47 468 00 767
CFO Roar Østbø, cell: +47 932 45 175

About Q-Free:
Q-Free is a leading global supplier of products and solutions within Road User Charging and Advanced Transportation Management Systems. The Q-Free Group has approximately 440 employees with offices in 17 countries and presence on all continents. The Q-Free head office is in Trondheim, Norway. Q-Free is listed on Oslo Stock Exchange under the ticker QFR.

www.q-free.com
Twitter: @Q-FreeASA