RCS - Journeo PLC - Service and support contract in Sweden

JourneoAnnouncement

22/04/2024 07:00

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RNS Number : 4093L  Journeo PLC  22 April 2024

22 April 2024

REACH Announcement

Journeo plc

("Journeo", or the "Company")

 

Service and support contract in Sweden

Journeo plc (AIM: JNEO), a leading provider of intelligent transport solutions
("ITS") to operators and authorities across the UK and Scandinavia, is pleased
to announce that its Danish subsidiary, MultiQ A/S ("MultiQ") has signed a
contract to provide transport display hardware, installation and technical
support services for a period of up to six years with Grassfish AB
("Grassfish"), a wholly-owned subsidiary of Vertiseit AB ("Vertiseit") based
in Sweden.

The anticipated revenue under the contract is approximately £300,000 per
annum with potential additional revenues arising from renewal sales and
additional services.

 

Grassfish has been reappointed by Skånetrafiken, the regional public transit
authority in Skåne County in the south of Sweden, to deliver passenger
content to enhance the journey experience for an extended period of up to six
years. Skånetrafiken manages over 1,000 buses through five major Scandinavian
bus operators. Each bus has three passenger displays providing travel
information, advertising and entertainment powered by the Grassfish software
platform. As a Grassfish partner, MultiQ will provide content management
platform technical services and field-based engineering and support services
for all (approximately 3,000) vehicle displays across Skånetrafiken's fleet.

MultiQ was acquired by Journeo from Vertiseit, a Swedish based retail
technology company specialising in digital in-store media, in September 2023.

Russ Singleton, CEO of Journeo commented "I am delighted that MultiQ and
Journeo's Stockholm-based engineering team have been able to combine forces to
secure this services and support agreement in the Skåne region of southern
Sweden. This is the first example of the partnership with Vertiseit and its
subsidiary Grassfish delivering long-term recurring revenue from our
engineering and technical support teams, and we look forward to building on
the relationship over the coming years".

 

A digital copy of this announcement will be available on the Group's website:
www.journeo.com (http://www.journeo.com/) .

 

For further information, please contact:

 Journeo plc                 +44 (0) 203 651 9166

Russ Singleton/ Nick Lowe

 

Notes to editors:

Journeo plc is a leading Intelligent Transport Systems provider, delivering
solutions in towns, cities, airports, and the public transport networks that
connect them. The Company works extensively with local and combined
authorities, Network Rail and many of the largest multinational transport
operators, supporting them as systems converge towards a more efficient and
sustainable future.

The business has five operating companies:

·    Journeo Fleet Systems: CCTV video surveillance to improve passenger
& driver safety, telematics for vehicle and driver performance monitoring,
real-time communications for remote condition monitoring and automatic
passenger counting.

·    Journeo Passenger Systems: design, manufacture, installation, and
management of hardware and software for electronic public transport
information systems, in and around towns, cities, ferry terminals and airports
which includes smart-ticketing and wayfinding.

·    Infotec: design, advanced manufacture, installation and software
management of information displays hardware for rail applications in stations,
on-platform and on-vehicle.

·    MultiQ (based in Aarhus, Denmark): full-service provider of
Intelligent Transport Systems ("ITS") with customers in Denmark, Sweden and
Iceland.

·    Journeo AB (based in Stockholm, Sweden): technical services provider
to public transport customers in Sweden.

In the last 4 years, the Company has invested over £6 million in research and
development, enabling it to design and supply powerful innovative solutions
for customers' complex requirements and the demands of modern public
transport. With an Internet of Things ("IoT") approach and open standards,
together with field-proven and reliable engineering, Journeo is able to offer
flexible, scalable products and services that can integrate with existing
technology while preparing for future advancements.

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