12/12/2019 - Sensys Gatso Group, a global leader in traffic safety solutions, through its subsidiary Sensys Gatso Australia, will expand its TRaffic enforcement as a Service (TRaaS) contract by AUD 8.7 million over 6 years, corresponding to SEK 55 million.
On 11 December, 2019, a purchase order for the supply of additional mobile camera systems for the Victorian government was received by Sensys Gatso Australia. In conjunction with this order, and further to the Press Release of April 5, 2019, the amount of mobile camera systems deployed in the field will increase in 2020. With this increase of systems, the TRaaS maintenance service provided to Serco Traffic Camera Services on behalf of the Victorian Government, will extend from AUD 11.3 million to a total contract value of annuity services of approximately AUD 20 million, corresponding to SEK 130 million over 6 years.
This new systems purchase order expands the existing TRaaS maintenance support for the initial quantity of mobile camera systems for the next 6 years. As part of the agreement, it is expected that the additional systems ordered will be added to the TRaas Maintenance contract progressively as they are commissioned. When fully deployed, the total contract value of TRaaS will be approximately AUD 20 million, corresponding to SEK 130 million over 6 years. The additional systems will be gradually rolled-out starting in Q1 2020 and are expected to be fully deployed by early 2021.
Sensys Gatso Australia's Managing Director Enzo Dri comments: "With the introduction of new in-vehicle traffic safety systems in the State of Victoria, the Sensys Gatso team has engaged with the State and Serco Traffic Camera Services to establish a high uptime support solution. The support services will give the State of Victoria the ability to maximise the effect of the new technology to deter speeding and improve safety on the road network."
This information is information that Sensys Gatso Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person, at 09.20 on December 12, 2019.
For further information:
Ivo Mönnink, CEO
Sensys Gatso Group AB
Sensys Gatso Group AB is a global leader in traffic management solutions for nations, cities and fleet owners. Sensys Gatso Group has subsidiaries in Australia, Germany, the Netherlands, Sweden and the USA, and a branch office in the United Arab Emirates. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm and has 195 employees.