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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

Pending completion of its fiscal 2014 audit, Iteris has reported preliminary condensed consolidated financial results for the fiscal year ended 31 March 2014, to provide investors with insight into the company’s performance. Total unaudited revenue for the year was in the range US$67.2 million to US$68 million, compared to audited revenue in 2013 of US$61.6 million. Net income was between US$0.5 million and US$1.5 million, compared to US2.3 million in 2013. Net income in fiscal 2014 and 2013 includes an

Iteris has announced that it will require additional time to complete its audit for the fiscal year ended 31 March 2014, primarily due to the time necessary to complete the review of certain complex, multi-element contracts, but the company is continuing to work with its auditors to complete the fiscal 2014 audit but. The company may have a material weakness in its internal controls over financial reporting related to certain of these multi-element contracts, but the company has not yet completed its fin

The DRIVE C2X provides a comprehensive, Europe-wide assessment of cooperative systems through field operational tests, and is to present its results on 16 and 17 July in Berlin. The test results are the last step in the preparation for the roll-out of cooperative systems in Europe. During the three and a half years of the project, more than 750 drivers tested eight safety-related functions of cooperative functions all over Europe. The operational tests took place in seven test sites in Finland, France, G

In a bid to improve safety at the Sheriffhall roundabout near Edinburgh, Scotland, Clearview Traffic has been working with BEAR Scotland on an innovative accident reduction project at the complex six-arm gyratory roundabout which is used by over 42,000 vehicles per day. The project, which Clearview says is the first of its kind in the UK, uses the company’s IRS2 intelligent hardwired road stud to increase driver awareness and improve lane discipline on and off the roundabout. Improvements and efficien

In a contract worth US$1.4 million Q-Free TCS is to supply the City of Montgomery in the US with an advanced transportation management system (ATMS). The contract is for a parking guidance system which will begin in July and delivered by the end of 2014. Q-Free TCS has previously delivered two parking guidance systems to the same customer. “Q-Free is the market leader within parking guidance solutions in North America. This contract confirms the attractiveness of our offering in this market,” says Q-F

A recent study by MarketdsandMarkets, Traffic Management Market by Solutions, Displays & Systems (Full Pedestrian, Parking Space and Toll Management, Above Ground Pedestrian and Vehicle Detection) - Global Advancements, Projects, Worldwide Forecast & Analysis (2014 - 2019) analysed and studied the major market drivers, restraints, and opportunities in North America, Western Europe, CIS and Eastern Europe, Middle East and Africa, Asia-Pacific and Latin America. The study reports that the traffic manageme

A wide-ranging report produced by transport expert Professor David Begg, A 2050 vision for London, looks at the impact that the rise of autonomous transport systems might have on UK cities, and in particular London. Begg’s report proposes 10mph zones for traffic near schools and in busy areas and suggests that the safety of and efficiency of London's transport network could be improved by the introduction of driverless vehicles. Speeds for automated buses could be restricted by remote control, while

Dozens of sustainable transport schemes got the green light this week, Transport Minister Baroness Kramer has announced. The range of schemes will include improved infrastructure for cyclists and pedestrians, better bus journeys and new and upgraded transport interchanges allowing people to easily switch from one mode of transport to another. The Department for Transport is providing US$109 million towards the schemes in the latest round of its Local sustainable Transport Fund, with Local Enterprise P

While Google develops driverless cars in the west, in China, internet giant Baidu is said to be developing an unmanned autonomous bicycle. According to Techweb, a prototype of the world’s first unmanned bike is possible by the end of this year. The bike is said to be able to identify its owner, navigate obstacles and run on its own using an electric motor. The bike, without a rider, can apparently sense its environment well enough to avoid obstacles and navigate complicated road conditions. The device