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init innovation in traffic systems SE
Major Shareholding Notification • Oct 13, 2023
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Major Shareholding Notification
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News Details
Ad-hoc | 13 October 2023 07:17
init innovation in traffic systems SE: MARTA Atlanta, Georgia intends to award an order for an Automated Fare Collection System to init
init innovation in traffic systems SE / Key word(s): Contract
init innovation in traffic systems SE: MARTA Atlanta, Georgia intends to award an order for an Automated Fare Collection System to init
13-Oct-2023 / 07:17 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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
End of Inside Information
13-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| 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: | [email protected] |
| 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 |