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EQS-Ad-hoc: init innovation in traffic systems SE / Key word(s): Contract The Board of Directors of the Metropolitan Atlanta Rapid Transit Authority (MARTA) has approved a resolution authorizing the award of a contract for the procurement of the Automated Fare Collection (AFC) System 2.0 to INIT Innovations in Transportation, Inc. - a wholly owned US subsidiary of init innovation in traffic systems SE. MARTA is the principal public transit operator in the Atlanta metropolitan area and operates an extensive network of bus and rail services throughout the region. Atlanta is the ninth largest metropolitan area in the United States. Following the successful conclusion of negotiations, the contract is expected to be signed in late 2023 or early 2024. The Authority anticipates a contract value to be over USD 100 million for the initial design, installation, and deployment of AFC 2.0. Additionally, the total value of the contract is expected to double over 10 years of operations and maintenance. Contact: Person making the notification: Simone Fritz Investor Relations ir@initse.com End of Inside Information
13-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | init innovation in traffic systems SE |
| Käppelestraße 4-10 | |
| 76131 Karlsruhe | |
| Germany | |
| Phone: | +49 (0)721 6100 0 |
| Fax: | +49 (0)721 6100 399 |
| E-mail: | ir@initse.com |
| Internet: | www.initse.com |
| ISIN: | DE0005759807 |
| WKN: | 575980 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1748095 |
| End of Announcement | EQS News Service |
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1748095 13-Oct-2023 CET/CEST
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