DGAP-News 139 0 Kommentare init innovation in traffic systems SE: Major contract from METRO Houston

DGAP-News: init innovation in traffic systems SE / Key word(s): Contract
init innovation in traffic systems SE: Major contract from METRO Houston

19.04.2021 / 07:08
The issuer is solely responsible for the content of this announcement.

One of the largest US public transport companies relies on the account-based fare management system from the international telematics specialist

It took a while due to Corona but finally the major order from Houston has been signed. The US subsidiary of init innovation in traffic systems SE has now been contracted - as already announced in February last year - by the Metropolitan Transit Authority of Harris County (METRO) in Houston, Texas, to supply and install an innovative account-based fare management system for one of the largest public transportation service providers in the USA. The initial contract is worth close to USD 30 million.

"Smart Ticketing made by init, as we will implement it in the Houston area, is now one of the most requested technologies by public transportation companies worldwide. I am particularly proud of this new project because METRO is one of init's first US customers. For almost 20 years, init has delivered innovative ITS technology to METRO, and the new ticketing system will perfectly fit into this integrated technology environment. We look forward to continuing the good cooperation we have enjoyed with METRO over the past years," says init Managing Board member Dr. Jürgen Greschner.

Passengers of public transportation all over the world want to get their most favourable ticket quickly and easily. The ticketing solutions from init eliminate the access barriers that have frequently existed up to now, by introducing flexible, cashless and touchless fare payments.

1,700 vehicles are integrated

The basis for such modern ticketing is the background system MOBILEvario from init. It offers comprehensive functionalities for fare management and revenue sharing and serves as the core for account-based systems. The open architecture with defined programming interfaces (APIs) offers the necessary flexibility to integrate third-party systems and various identification media very easily.

In addition to this central system, 1,700 fixed route and paratransit busses will be equipped, and 200 validators installed on platforms for smart ticketing at METRO over the next few years.

About METRO Houston

Metropolitan Transit Authority of Harris County (METRO) operates transit service in the metropolitan area of Houston, Texas. METRO's service area includes the City of Houston, Harris County and 14 surrounding cities. Houston is the fourth-largest city and one of the fastest growing metropolitan areas in the United States.

Contact:
Person making the notification:
Simone Fritz
Investor Relations
ir@initse.com

19.04.2021 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.

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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:	1185962