Service and support contract in Sweden
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Journeo plc (AIM: JNEO), a leading provider of intelligent transport solutions ("ITS") to operators and authorities across the UK and Scandinavia, is pleased to announce that its Danish subsidiary, MultiQ A/S ("MultiQ") has signed a contract to provide transport display hardware, installation and technical support services for a period of up to six years with Grassfish AB ("Grassfish"), a wholly-owned subsidiary of Vertiseit AB ("Vertiseit") based in Sweden.
The anticipated revenue under the contract is approximately £300,000 per annum with potential additional revenues arising from renewal sales and additional services.
Grassfish has been reappointed by Skånetrafiken, the regional public transit authority in Skåne County in the south of Sweden, to deliver passenger content to enhance the journey experience for an extended period of up to six years. Skånetrafiken manages over 1,000 buses through five major Scandinavian bus operators. Each bus has three passenger displays providing travel information, advertising and entertainment powered by the Grassfish software platform. As a Grassfish partner, MultiQ will provide content management platform technical services and field-based engineering and support services for all (approximately 3,000) vehicle displays across Skånetrafiken's fleet.
MultiQ was acquired by Journeo from Vertiseit, a Swedish based retail technology company specialising in digital in-store media, in September 2023.
Russ Singleton, CEO of Journeo commented "I am delighted that MultiQ and Journeo's Stockholm-based engineering team have been able to combine forces to secure this services and support agreement in the Skåne region of southern Sweden. This is the first example of the partnership with Vertiseit and its subsidiary Grassfish delivering long-term recurring revenue from our engineering and technical support teams, and we look forward to building on the relationship over the coming years".
A digital copy of this announcement will be available on the Group's website: www.journeo.com.
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