Q-Free has been awarded a new frame agreement for delivery of tolling tags from Centro Gestao Meios de Pagto (CGMP), Brazil's Centro tag distributor, valued at US$12, with a guaranteed volume of just over $4 million.
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
Q-Free has strengthened its activities in Norway with the extension of four existing service agreements for the AutoPass system, together with two new AutoPass orders and increased capacity in the existing central systems agreement.
The orders, from the Norwegian Public Roads Administration, are worth a total of US$4 million, with potential for a further US$2.5 million over the lifetime of the projects.
“These contracts confirm that we have an attractive portfolio offering in our home market in Norway
Following the completion of the acquisition of UK company TDC Systems and its Australian sister company, the Board of Directors of Q-Free has approved an increase in the company’s the share capital of US$44,638, which will be carried out by the issuance of 704,037 new shares with a par value of US$0.063.
