Service and support contract in Sweden

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.

For further information, please contact:

Journeo plc Russ Singleton/ Nick Lowe	[phone]

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.

This is a RNS Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases into the public domain.  Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.

 

END