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init innovation in traffic systems SE
Regulatory Filings • Oct 4, 2018
224_rns_2018-10-04_aee7c5da-22ee-431d-a321-35222502aee3.html
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Corporate | 4 October 2018 11:28
init innovation in traffic systems SE: Largest order in the history of the company has been signed
DGAP-News: init innovation in traffic systems SE / Key word(s): Contract
04.10.2018 / 11:28
The issuer is solely responsible for the content of this announcement.
Sound Transit has awarded init for the delivery and operation of an account-based electronic fare system
The largest order in the history of init innovation in traffic systems SE (ISIN DE 0005759807) has been signed: After confirmation by the ORCA Joint Board and the Sound Transit Board of Directors, the Central Puget Sound Regional Transit Authority (Sound Transit) has now awarded INIT Innovations in Transportation Inc. – a wholly owned US subsidiary of init SE – for the delivery of the next generation ORCA electronic fare system in the Central Puget Sound Region (Greater Seattle).
As already mentioned in our adhoc release on 7 September 2018 this contract conclusion includes a four-year project valued at approximately USD 50m with eleven additional one-year operations and maintenance options for a total amount exceeding USD 90m.
init will also be opening a development center in the Pacific Northwest as part of the contract to help serve its growing project needs up and down the West Coast.
Contact:
Person making the notification:
Simone Fritz
Investor Relations
04.10.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| 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 |
| End of News | DGAP News Service |