Q-Free: Traffic Management contract in USA – ~60 MNOK
(Oslo, 8 March 2021) Q-Free has won a contract with West Virginia Division of Highways (WVDOH) to deliver an upgraded statewide advanced traffic management solution (ATMS). WVDOH has been a customer of Q-Free’s and used Q-Free’s statewide ATMS since 2008.
The contract is structured as an initial delivery in the first year with monthly recurring Operations & Maintenance revenues the following 7 years. Over the 8-year contract term, the total value will be approximately 60 MNOK. Moreover, the contract allows for opportunities to generate additional revenues from delivery of new features, functionalities, and solutions over the contract period.
“We are very pleased to continue our long-term cooperation with WVDOH and feel honored that WVDOH chose Q-Free to upgrade their statewide ATMS. With this contract we secure another important recurring revenue stream for our Traffic Management unit,” comments Håkon Volldal, President & CEO of Q-Free.
For further information, please contact:
Håkon Volldal, President & CEO, +47 977 19 973
Trond Christensen, CFO, +47 481 02 754
Q-Free ASA (OSE: QFR) is a global innovator in intelligent transportation systems that improve traffic flow, road safety, and air quality. With an open, collaborative approach to tolling, traffic and active transportation management, Q-Free works with customers and partners on every continent to digitize infrastructure and overcome modern mobility challenges for the greater good of society.
Headquartered in Trondheim, Norway, Q-Free has annual revenues of approximately 1 billion NOK and employs approximately 380 transportation innovators, experts, and enthusiasts. To learn more about how Q-Free is changing the movements of life, visit www.q-free.com or Twitter:@Q-FreeASA