Tracsis plc (LON: TRCS), a leading provider of software and services for the traffic data and transportation industry, has today announced 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.
Tracsis plc 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.