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Sensys Gatso receives TRaaS contract renewal for automated traffic safety in Waterloo, IA, worth SEK 57 million
12-02-2024
Sensys Gatso Group, a global leader in traffic safety solutions, through its subsidiary, Sensys Gatso USA, has executed a 5-year base term automated traffic enforcement contract renewal with the City of Waterloo, IA, USA. The renewal contract, which was unanimously approved by city council, is estimated to be worth up to USD 5.4 million, corresponding to SEK 57 million. In addition there is the possibility for future Program expansion.
The City of Waterloo has been a traffic safety partner of Sensys Gatso since 2017.
“We are very happy to extend our partnership with the City of Waterloo to address their traffic safety concerns,” said Sensys Gatso USA President and Managing Director, Bill Braden. “I want to thank the city and police department for their confidence in us to be their service provider.”
This is the third contract renewal Sensys Gatso USA has secured with existing customers so far this year.
“Limited police resources have required cities to look at more efficient means of traffic enforcement as part of their overall traffic safety programming,” Braden said. “Our technology is a “force multiplier” that allows the police to handle other public safety priorities and quality of life issues in their communities.”
Sensys Gatso USA has 14 contracted automated traffic enforcement programs in the state of Iowa.
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 09.35 on February 12, 2024.
For further information:
Ivo Mönnink, CEO
Sensys Gatso Group AB
E-mail: investors@sensysgatso.com
Sensys Gatso Group AB is a global leader in traffic management solutions for nations, cities and fleet owners. Sensys Gatso Group has subsidiaries in Australia, Costa Rica, Germany, the Netherlands, Saudi Arabia, Sweden and the USA, and a branch office in the United Arab Emirates and has 284 employees. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm.
For further information, visit www.sensysgatso.com