Tracsis PLC Preferred bidder for PAYG Tap Converter system

RNS Number : 5869N

Tracsis PLC

26 November 2024

 

 

26 November 2024

 

Tracsis plc

("Tracsis" or "the Group")

 

Preferred bidder status for the procurement of a PAYG Tap Converter system across GB rail

 

Tracsis (LSE: TRCS), a leading transport technology provider, is pleased to announce that Rail Settlement Plan Limited (trading as Rail Delivery Group* in the UK) has taken forward a proposal from iBlocks Limited (a subsidiary of Tracsis plc) to Preferred Bidder status for the procurement of a Pay As You Go (PAYG) Tap Converter system.  When operational, the PAYG Tap Converter system aims to provide a reliable 'best fare' guarantee for consumers using PAYG ticketing services across GB rail.

 

At this point, negotiations remain on a non-exclusive basis and there is no guarantee that a final contract will be awarded. Any final contract award will only be made after concluding contract negotiations and confirmation of funding from the Government.

*The Rail Delivery Group is a membership organisation that works on behalf of the UK rail industry to create a simpler, better railway. Its members are the Train Operating Companies that make up the rail industry across Britain.

 

Enquiries:

Tracsis plc Chris Barnes, CEO Andy Kelly, CFO	[phone]
Berenberg (Nominated Adviser, Sole Broker & Financial Adviser) Mark Whitmore / Richard Andrews / Mollie D'Arcy Rice James Thompson (QE)	[phone]
Alma Strategic Communications David Ison / Rebecca Sanders-Hewett / Joe Pederzolli	[phone] [e-mail]

 

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 

Notes to editors: 

 

·     Tracsis plc is a technology company and a leading provider of software and hardware products, data capture and data analytics/GIS services for the rail, traffic data and wider transport industries.

 

·   Tracsis's products and services are widely used to increase efficiency, reduce cost and risk, improve operational and asset performance, improve safety management and decision making capabilities and improve the overall end-user experience for clients and customers. 

 

·      The Group is split into two principal operating areas built around detailed industry knowledge and expertise:

 

-   Rail Technology & Services:  A software, technology and product led business. It develops and supplies software that solves complex resource, asset optimisation and control problems for Train Operators, and smart ticketing, delay repay and other retail software to improve the customer experience for rail users. It also develops remote condition monitoring hardware, data acquisition software, and safety and risk management software for rail infrastructure providers.

-   Data, Analytics, Consultancy & Events: A largely services led business that focuses on data capture, data analytics, GIS, earth observation, data insights, consultancy and event traffic management within a range of transport and pedestrian rich environments. The business provides technology and bespoke products and data that underpin large scale intelligent transport systems, smart city planning and positive environmental decision making.

 

·   Tracsis has a blue-chip client base which includes all major UK transport owning groups, Network Rail, Passenger and Freight Train Operating Companies, the Department for Transport, TfL, multiple local authorities, major outdoor music and sporting event organisers, and a wide variety of large engineering and infrastructure companies. In North America our clients include Class 1 rail freight companies, transit operators, shortline railroads and several large rail served ports and industrials.

 

·    The business drives growth both organically and through acquisition and has made seventeen acquisitions since 2008.

 

For more information on Tracsis please visit http://www.tracsis.com

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