Last checked at 3 Jan 2019 07:00
3 January 2019
Tracsis plc
("Tracsis" or the "Group")
Significant Contract Win
Tracsis plc, a leading provider of software and services for the traffic data and transportation industry, is pleased to announce that it has signed a significant five year Framework Agreement with a major Train Owning Group for its TRACS Enterprise product. The Agreement covers all of the Operator's individual Train Operating Companies (TOCs) within the UK plus other franchises that the Owning Group may win in future.
The total potential value over the duration of the Framework Agreement is expected to be multi million pounds although given the 'call off' nature of the Agreement, the number of modules used and the specific timing of implementation (and therefore revenue) is difficult to forecast with certainty. However, the Directors believe this is a key win for Tracsis that will lead to significant recurring revenue opportunities within the duration of the Agreement and beyond. For the avoidance of doubt, at this point in time there will be no change made to current year forecasts.
Enquiries:
Tracsis plc Tel: 0845 125 9162
John McArthur, CEO
Max Cawthra, CFO
finnCap Ltd Tel: 020 7220 0500
Christopher Raggett/Scott Mathieson, Corporate Finance
Andrew Burdis, Corporate Broking
The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
Notes to editors:
§The Group specialises in solving a variety of data capture, reporting and resource optimisation problems along with the provision of a range of associated professional services.
§Tracsis' products and services are used to increase efficiency, reduce cost and improve the operational performance and decision making capabilities for clients and customers.
§The Company offers the following services:
- Rail Technology & Services: Software and technology led consulting, and remote condition monitoring: Industry strength software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon, plus technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.
- Traffic & Data Services: Collation, analytical services, and event management within traffic and pedestrian rich environments. The business provides technology and data that is instrumental in the development of 21st century intelligent transport systems and smart cities.
§Tracsis has a blue chip client base which includes all major UK transport owning Groups. The business also works extensively with Network Rail, the Department of Transport, TfL, multiple local authorities, major outdoor music and sporting events, and a wide variety of large engineering and infrastructure companies.
§The business drives growth both organically and through acquisition and has made ten acquisitions since 2008.
§For more information on Tracsis please visit http://www.tracsis.com