Q-Free to sell security division

Q-Free has entered into an agreement to sell all assets related to its US-based security business Prometheus Security Group. Q-Free expects the transaction to be closed during February 2017, when all contracts, employees and other assets will be transferred to the new owner. According to Q-Free’s CEO, Håkon Volldal, the company plans to move forward and develop the markets in its tolling, parking, infomobility, urban and inter-urban offerings.
February 3, 2017 Read time: 1 min
108 Q-Free has entered into an agreement to sell all assets related to its US-based security business Prometheus Security Group. Q-Free expects the transaction to be closed during February 2017, when all contracts, employees and other assets will be transferred to the new owner.

According to Q-Free’s CEO, Håkon Volldal, the company plans to move forward and develop the markets in its tolling, parking, infomobility, urban and inter-urban offerings.
Parking & Access Control Charging, Tolling & RUC

For more information on companies in this article

Related Content

  • 3M to sell its tolling and ANPR business
    May 12, 2017
    3M has entered into agreements to sell its tolling and automated license/number plate recognition business, which is part of 3M’s Traffic Safety and Security Division, to Neology, a provider of integrated solutions for tolling, electronic vehicle registration and public safety applications. Neology is a subsidiary of Smartrac, a portfolio company managed by One Equity Partners, a middle-market private equity firm. 3M’s tolling solutions include RFID readers and tags, automatic vehicle classification systems
    Read More
  • Electronic toll collection system market projected to grow $9.5 billion by 2020
    May 19, 2014
    According to a new market research report by MarketsandMarkets, Electronic Toll Collection System Market by Products, Technology Applications and Geography - Analysis & Forecast 2013-2020, the market for electronic toll collection (ETC) is expected to grow at a CAGR of 11.1 per cent from 2013 to 2020, and reach US$9.5 billion in 2020. The overall global electronic toll collection system market is segmented into four major areas: products, technologies, applications and geography. All the major segments a
    Read More
  • Q-FREE expands ATMS orders in the US
    October 30, 2014
    Q-Free Open Roads has been awarded advanced transportation management systems (ATMS) contracts in the US at a value of US$2.5 million for equipment and services. The contracts will be delivered in the first and second quarters of 2015. “We are very pleased to see the high activity level in Open Roads following Q-Free’s recent acquisition,” says Q-Free CEO Thomas Falck. Q-Free acquired Open Roads Consulting in September this year and said at the time that the acquisition was a strategically good match
    Read More
  • Emovis extends Mersey toll deal
    March 29, 2022
    Abertis-owned group's new contract for crossings near Liverpool, England, run to 2029
    Read More

Highlighted Content