Quarterhill announces shift in strategy driving revenue growth

Quarterhill has announced its financial results for the three- and six-month periods ended 30 June 2017, during which it announced a new acquisition-oriented growth strategy and changed the name of the public company to Quarterhill. The company posted revenue of US$18.6 million and adjusted EBITDA of US$4.8 million, Net income was US$3.6 million and cash from operations was US$3.1 million. It also acquired International Road Dynamics (IRD), a highway traffic management technology company specialising in sup
August 11, 2017 Read time: 2 mins
Quarterhill has announced its financial results for the three- and six-month periods ended 30 June 2017, during which it announced a new acquisition-oriented growth strategy and changed the name of the public company to Quarterhill.


The company posted revenue of US$18.6 million and adjusted EBITDA of US$4.8 million, Net income was US$3.6 million and cash from operations was US$3.1 million.

It also acquired 69 International Road Dynamics (IRD), a highway traffic management technology company specialising in supplying products and systems to the global Intelligent Transportation Systems industry, VIZIYA Corp, a software and services provider that helps companies optimise their asset performance, and 7695 iCOMS Detections.

According to Shaun McEwan, interim CEO of Quarterhill, Q2 was a significant period for the company as it launched a major shift in growth strategy by transitioning its public parent company into a diversified investment holding firm focused on acquiring companies in the Industrial Internet of Things market.

"We quickly began executing on our new plan and completed the acquisitions of IRD and VIZIYA in the quarter. As part of the new strategy, we renamed the public company Quarterhill, and kept the 8619 WiLAN name with our patent license business, which will continue to operate as one of the Company’s investments," he said.

"Our new strategy reflects our belief that the best path to grow the business and shareholder value is to acquire promising growth companies and support them while they build their businesses. This diversification strategy will add additional lines of business to the overall public Company, which will open-up new revenue and cash flow streams, and mitigate the lumpiness that we had experienced in the past. This is evident already; even though the acquired businesses had only a partial contribution to our Q2 financials, we are already seeing the positive impact they can have on our revenue and margins."

Detection, Monitoring & Machine Vision Classification & Data Collection

Related Content

  • August 21, 2018
    Helsinki’s residents trial MaaS as alternative to private cars
    Would you give up your own car? Helsinki implemented MaaS late last year and Colin Sowman discovers that the initial reaction has been positive What would it take for you to give up your own car? That is the question posed by Sampo Hietanen, the so-called ‘father’ of Mobility as a Service (MaaS) and CEO of MaaS Global. And he is about to discover if MaaS really will convince the people of Helsinki to do the unthinkable. MaaS Global introduced a fledgling version of its Whim app in the city in late 2016
    Read More
  • April 18, 2023
    $107m GTT acquisition is latest signal of Miovision's growth
    Miovision also raises $260m to develop platform and 'quickly integrate new acquisitions'
    Read More
  • October 19, 2015
    Authorities select enforce now, pay later option
    Outsouring of enforcement services is on the increase internationally as highway and traffic authorities seek further support in resources and expertise from the private sector. Jon Masters reports. Signs of a significant company making moves into a new market can usually be read as indication of likely growth in that particular sector. Q-Free’s expansion from tolling operations into general traffic enforcement could be viewed as surprising as it is moving into what are relatively mature and consolidating m
    Read More
  • January 25, 2012
    Tolling systems - interoperability is key
    Is US tolling as fragmented and divided as some would have you believe? And are the technology suppliers so very entrenched? ITS International spoke to the market's leading suppliers. A few years back, the prevalent view was that the North American tolling market was characterised by fragmented, proprietary solutions, each existing in splendid isolation. The reality is that a combination of pragmatism and good old market forces have seen some concerted moves made towards interoperability in many areas.
    Read More

Highlighted Content