REG - Journeo PLC - £3.5m Framework Agreement

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RNS Number : 3387X  Journeo PLC  01 September 2025

The information contained within this announcement is deemed by the Company to
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European Union (Withdrawal) Act 2018, as amended and supplemented from time to
time.

1 September 2025

Journeo plc

 

("Journeo" or the "Company")

 

£3.5m Framework Agreement

Journeo plc (AIM: JNEO), a leading provider of information systems and
technical services to transport operators and local authorities, is pleased
to announce a variation to the £10m First Bus UK ("First Bus") framework
agreement (the "Variation Agreement") announced on 14 May 2025 which runs for
three-years through to March 2028, enabling Journeo to install technology and
provide engineering services across the recently acquired bus fleet of First
Bus London.

The Variation Agreement is expected to generate an additional £3.5m in
revenues, with an option to extend the term by a further two-years through to
March 2030.

In February 2025, First Group announced the acquisition of RATP Dev Transit
London, which now operates as First Bus London, marking the Group's entrance
into bus operations in London. Prior to the acquisition, RATP London had
around a 12% market share of bus operations in the UK capital, including a
fleet of around 1,000 buses and 90 Transport for London route contracts.

The Variation Agreement comprises the provision of Journeo's latest 5G vehicle
gateway allowing a secure connection to the Journeo Portal, Journeo's SaaS
solution, which offers operators access to critical video to support rapid
incident investigation. Furthermore, Journeo will supply the latest digital
CCTV solutions and its digital wing mirror technology on new vehicles entering
the fleet and across all vehicles, will offer field service maintenance that
is optimised using Journeo's remote condition monitoring capability built into
the Journeo EDGE.

Russ Singleton, Chief Executive Officer, commented:

"We are delighted to extend our relationship with First Bus into London and
are excited to be part of the journey they are taking as they expand their
operations and accelerate towards decarbonised public transport."

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
 Cavendish Capital Markets Limited - Nominated Adviser and Broker  +44 (0) 207 220 0500

Katy Birkin/ Callum Davidson

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.

·      Journeo AS (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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