Tracsis has won a contract from the New Zealand operations of a worldwide transport owning group, the company announced Thursday.
The contract between the UK transport technology firm and the New Zealand group includes a combination of software licence, support and maintenance, project management and customisation.
The deal is with the Tracsis division of COMPASS (combined performance and safety system) - a modular safety, performance and management software suite that provides accurate tracking and reporting on transport systems.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
John McArthur, Chief Executive Officer, said: "We are delighted to have been awarded this contract for our COMPASS product with a major worldwide transport operator. Australasia is a target market for Tracsis as it seeks to expand overseas and this win follows on the back of consultancy work carried out in New Zealand earlier in the year."
The agreement is expected to deliver an element of recurring revenue and will be complete over several months.
Tracsis has clients with UK railway operators including Network Rail, Virgin Group, Arriva and First Group, as well as customers in Europe and Australia.
Shares in Tracsis climbed 2.87% to 161.50p at 14:30 Thursday.
RD
-
Rightmove: Property asking prices drop by almost £7,000 in DecemberCompetition among property sellers drives asking prices to fall more than usual in December
-
Who is the richest person in the world?
The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
