Q-Free increases its stake in Intelight

Q-Free has increased its stake in US traffic controller supplier, Intelight, with a five year option program which will give shareholders the option to sell shares at closing in 2015 and in five subsequent years valid from 2016. The deal will give Q-Free the opportunity to add some 15 per cent of Intelight shares to its current 10.2 per cent shareholding each year. At end of the five year period, Q-Free has the option to acquire the rest of the shares. The first transaction will be closed during the second
March 20, 2015 Read time: 2 mins
RSS108 Q-Free has increased its stake in US traffic controller supplier, 7316 Intelight, with a five year option program which will give shareholders the option to sell shares at closing in 2015 and in five subsequent years valid from 2016. The deal will give Q-Free the opportunity to add some 15 per cent of Intelight shares to its current 10.2 per cent shareholding each year. At end of the five year period, Q-Free has the option to acquire the rest of the shares. The first transaction will be closed during the second quarter 2015 and is expected to bring Q-Free’s total shareholdings in the company up to approximately 25 per cent. The activity of Intelight will be consolidated in the Q-Free accounts from the closing date of the first transaction.

Founded by Craig Gardner and headquartered in Tucson, Arizona, Intelight manufactures innovative traffic management products including advanced traffic controllers, traffic control cabinets, smart signals and web-based central software systems. The company is among the leading suppliers of systems and services to the US market for urban traffic management. Gardner will remain on the Intelight board and as the company’s current president.

Intelight’s products and services are based on the most recent technology and open platforms, making the company able to meet a broader range of future demands in the North American market.

“Intelight has been part of our advanced traffic management systems strategy since 2013 and the company fits well into our portfolio. Together with Q-Free Elcom, Intelight enables Q-Free to meet demands from urban traffic management markets in all selected regions, supporting our global strategy. The acquisition will increase the number of employees to 130 in the US and will also increase revenue synergies for the existing Q-Free activities in this market,” says Q-Free CEO Thomas Falck.

“All employees are very enthusiastic about the opportunity to become part of a large international operation with a global network. The additional market exposure and availability of resources will contribute to further expansion of our business together with the rest of the Q-Free family,” says Gardner.
Charging, Tolling & RUC Urban Traffic Control

For more information on companies in this article

Related Content

  • Pelmorex enhances traffic and traveller information
    September 13, 2012
    Ontario-headquartered Pelmorex Media, parent company of The Weather Network and MétéoMédia, has acquired Beat The Traffic, Californian provider of vehicle traffic reporting solutions for broadcast media and consumers. The acquisition gives Pelmorex Media a significant boost to its expertise in traveller information and access to technology and patents that will enhance the services that will be provided by Travelers Network, to be launched in late October. Travelers Network will be established as its own d
    Read More
  • Michelin to acquire Sascar
    June 9, 2014
    In a deal valued at a total of US$709 million, Michelin has announced its intention to acquire all outstanding shares of Sascar, the leading Brazilian digital fleet management and freight security company. The acquisition will enable Michelin to expand its service offering for truckers and to speed the growth of its truck tyre business in Brazil, while Sascar will gain access to Michelin’s major customers in South America. of this company, whose business model has proved its worth in Brazil (33,000 f
    Read More
  • FedEx closes in on vehicle fleet fuel efficiency goal years ahead of schedule
    May 17, 2012
    FedEx Express says it has made significant progress towards its goal to make its vehicle fleet 20 per cent more fuel efficient by 2020, and announced that its vehicle fleet is now 16.6 per cent more fuel efficient through FY2011 than it was in 2005. Twenty per cent of the FedEx Express diesel vehicle pickup and delivery fleet has already been converted to more efficient and cleaner emission models that comply with 2010 US Environmental Protection Agency diesel emission standards.
    Read More
  • New president for IBTTA
    January 7, 2014
    From 1 January, Mike Heiligenstein, executive director of the Central Texas Regional Mobility Authority (CTRMA), Austin, Texas, began his year-long term as president of the International Bridge, Tunnel and Turnpike Association (IBTTA). He says: “Over the next year, I look forward to leading our industry’s international association while highlighting the great work at The Mobility Authority and other IBTTA member organisations around the globe.” Eight other directors also began new terms on the IBTTA’s bo
    Read More

Highlighted Content