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Sensys Gatso and Ricardo Rail signs strategic agreement for the rail market
30-06-2017
Sensys Gatso Group, a global leader in traffic safety solutions, and Ricardo Rail has signed a strategic agreement for sales and manufacturing of the APMS product (Automatic Pantograph Monitoring System) to the global rail market. Sensys Gatso has entered into this agreement, that does not contain any committed values, in order to improve its focus on the road traffic business.
Sensys Gatso Group has developed and delivered the APMS product to customers in the Nordic region as well as delivered a number of pilots outside the Nordics. However, as Sensys Gatso has increased its focus on the traffic safety and traffic solutions for sustainable cities, the company has decided to enter into a strategic agreement with Ricardo Rail for the sales and manufacturing of the APMS product. The agreement consists of several steps, where Ricardo Rail initially takes over the global sales responsibility and later can assume manufacturing after purchasing APMS at a total value of 1,3 MEUR. Under the manufacturing license, Ricardo will pay a license fee in combination with the purchase of some key components from Sensys Gatso Group.
Ricardo Rail is a leading consultancy and specialist engineering services provider in the global rail market. Ricardo Rail and Sensys Gatso Group has cooperated for many years where Ricardo Rail has marketed the APMS product under the brand name PanMon for which it has received approval in the UK market. Ricardo Rail is currently approaching a number of different markets with the PanMon system. However, as of to date no commitments have been made.
"This strategic cooperation with Ricardo Rail allows us to focus on our core business, while still being able to benefit from our development efforts into the APMS/PanMon product. We are confident that Ricardo Rail with its strong track record in the rail business will be able to make the APMS/PanMon product a commercial success" says Torbjörn Sandberg, CEO and President of the Sensys Gatso Group AB.
This information is information that Sensys Gatso Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11.00 on the 30th of June 2017.
For further information:
Johan Frilund, EVP Corporate Development
M +46 732 742 823
E j.frilund@sensysgatso.com
Sensys Gatso is a global leader in traffic management solutions for nations, cities and fleet owners. Sensys Gatso has subsidiaries in Australia, Germany, the Netherlands, Sweden, and the USA, and a branch office in the United Arab Emirates. The Sensys Gatso Group’s shares are listed at NASDAQ Stockholm. The Group has 169 employees and is the result of a merger of Sensys Traffic AB and Gatso Beheer B.V. following Sensys Traffic’s acquisition of Gatso Beheer.