Q-Free acquires parking management solutions company

Q-free has agreed to acquire Malta-based parking management solutions provider Traffiko for US$1.12 million; the deal also includes an earn-out condition that can generate up to US$1.12 million more. Q-Free and Traffiko have long partnered in parking management systems projects, most recently in the APCOA contract to supply systems for parking garages at the Stockholm globe arena. Traffiko offers a wide range of advanced traffic applications including secure cloud hosted web-based applications for car
May 5, 2015 Read time: 2 mins
SOURCE: Fredrik Posse/Stryngford Photo
108 Q-free has agreed to acquire Malta-based parking management solutions provider 3984 Traffiko for US$1.12 million; the deal also includes an earn-out condition that can generate up to US$1.12 million more.

Q-Free and Traffiko have long partnered in parking management systems projects, most recently in the APCOA contract to supply systems for parking garages at the Stockholm globe arena.

Traffiko offers a wide range of advanced traffic applications including secure cloud hosted web-based applications for car park management, journey time analysis, on- and off-street traffic related enforcement, access control, tracking, video analytics, traffic scene analysis, and revenue management, based on an integrated platform.                               

“We are happy to include Traffiko in our portfolio. Through this transaction in parking management solutions, we are now able to deliver a complete range of solutions within this fast growing segment,” says Q-Free CEO Thomas Falck.

“We 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 Angelo Dalli, CEO of Traffiko.

Parking & Access Control Charging, Tolling & RUC

Related Content

  • March 20, 2015
    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
    Read More
  • March 28, 2014
    Q-Free strengthens ATMS business
    Q-Free has strengthened its position in the market for advanced transportation management systems with the signing of a share purchase agreement for the acquisition of intelligent transportation systems (ITS) supplier TDC Systems for an estimated cash and equity consideration of US$16.6 million dependent on future financial performance. Established in 1998, TDC Systems comprises TDC Systems in the UK and its sister company TDC Systems in Australia, both of which are owned by founder and managing director
    Read More
  • April 17, 2015
    Q-Free awarded parking guidance contract
    APCOA Parking Sverige has awarded Q-Free a contract valued at an initial US$645,000 for two parking garages at the Stockholm Globe Arena in Sweden. The solution includes a parking guidance system with single-space sensors and a barrier-free and ticketless access and payment solution. Q-Free Sweden will be responsible for the installation, which combines technologies from Q-Free Elcom, Q-Free TCS and Q-Free Netherlands. “This is an important step for Q-Free in parking, showing that we offer important c
    Read More
  • July 17, 2014
    Q-Free acquires Open Roads Consulting
    Q-Free has signed a Share Purchase Agreement (SPA) for the acquisition of Open Roads Consulting for a cash consideration of approximately US$6.2 million. Further consideration is dependent on future financial performance. The transaction is expected to be closed within the end of the third quarter 2014. The acquisition represents a milestone for Q-Free and is a strategically good match with other advanced traffic management systems (ATMS) and road user charging (RUC) activities within the group. It will
    Read More

Highlighted Content