Journeo inks bus display contract with Transport for Wales
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Transport technology specialist Journeo announced the signing of a software-as-a-service (SaaS) contract with Transport for Wales (TfW) on Wednesday, to supply a new display content management system (CMS) for the Welsh Bus Data Content Management System (WBDCMS).
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The AIM-traded firm said the initial contract would be worth £1m over a five-year term, with two additional one-year extensions available through to 2030.
It said WBDCMS was one of two key requirements identified by TfW to ensure consistent and reliable bus departure information for passengers across Wales.
The contract would provide principal authorities in Wales the ability to use a nationwide CMS to deliver high accuracy information, rather than procuring their own data services.
Journeo said the contract would include the use of the Journeo Portal, which would host the next evolution of the company's EPIX CMS, already in use by more than 40 local authorities within the UK.
With advanced display management and intelligent messaging features, the CMS was designed specifically for the transport market.
The initial software engineering and configuration work was underway, and was expected to generate revenue of around £0.5m this year.
It said the total value of the contract award would be determined by the number of displays TfW and the principal authorities connected to the system, as each further display connection would generate additional monthly recurring revenue, regardless of the display manufacturer.
The current prudent valuation of around £1m was based on TfW's own base case estimates.
“TfW have been heavily engaged with the transport market in recent years and we are delighted that they have selected our highly scalable solution to provide passengers with consistent and reliable bus departure information across Wales,” said chief executive officer Russ Singleton.
“To encourage more people to use public transport, they need well-presented and accurate information including timely travel disruption information.
“By adopting a nationwide data solution, TfW are ensuring that all authorities have access to the best data available and enabling authorities to focus their time on where best to deploy that information through real time displays and infrastructure-free solutions such as apps and QR-codes.”
At 1424 GMT, shares in Journeo were up 1.82% at 140p.
Reporting by Josh White for Sharecast.com.