Q-Free has signed a contract with a US customer to provide a new statewide advanced traffic management solution (ATMS). The delivery will include Q-Free’s OpenTMS software platform plus Traveler Information and Video Management solutions provided by partners.
Over the potential 10-year contract term, the total estimated contract value is close to 90 MNOK. The initial delivery accounts for approximately 20% of the value and will be delivered in September this year. Recurring Operations & Maintenance revenues account for the remaining 80%. There will also be opportunities for additional work related to development of new features and functionality.
– Over the past couple of years Q-Free has worked hard to convert parts of its ATMS business to a competitive Software as a Service (SaaS) model. With this contract we add another key account to our growing list of customers generating sizeable recurring software revenues. Moreover, the rapid deployment of the solution demonstrates the scalability of our ATMS platform, comments Håkon Volldal, President & CEO of Q-Free.
For further information, please contact:
President & CEO, Håkon Volldal: +47 977 19 973
Q-Free ASA (OSE: QFR) is a global innovator in intelligent transportation systems that improve traffic flow, road safety, and air quality. With an open, collaborative approach to tolling, traffic and active transportation management, Q-Free works with customers and partners on every continent to digitize infrastructure and overcome modern mobility challenges for the greater good of society.
Headquartered in Trondheim, Norway, Q-Free has annual revenues of approximately 1 billion NOK and employs approximately 380 transportation innovators, experts, and enthusiasts. To learn more about how Q-Free is changing the movements of life, visit www.q-free.com or Twitter:@Q-FreeASA