DGAP-News: init innovation in traffic systems SE / Key word(s): Contract init innovation in traffic systems SE: INIT wins contract for Metrolink Ticket Vending Devices (TVD) and Back-Office Account-Based Fare System 26.07.2018 / 15:05 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Karlsruhe/Los Angeles, Ca. The Southern California Regional Rail Authority, Metrolink, has awarded INIT Innovations in Transportation, Inc. with the contract to update and modernize the existing fare collection system. The system will be comprised of 155 new Ticket Vending Devices (TVDs), seven Ticket Office Machines (TOMs), and a core back-office account-based system. The new TVDs will accept both cash and cashless transactions. Metrolink contracted INIT to build a fare system that will allow the agency to integrate with third-party systems today while planning for prospective enhancements in the future. INIT was chosen to replace Metrolink's legacy TVDs, thereby helping them reduce capital and ongoing operating costs while maintaining the current TVDs. The new fare system is expected to improve the Authority's operational efficiency and fiscal sustainability, while simplifying fare purchases for riders and increasing ticket issuance speed. "INIT is very excited about partnering with Metrolink to bring a modernized fare system to Los Angeles," says INIT CEO Roland Staib. "The TVD's will bring unique benefits to the agency in terms of greater efficiency and lower operating costs, while enhancing the passenger experience in getting around their city." About Metrolink Metrolink is Southern California's regional commuter rail service in its 25th year of operation. Metrolink is governed by The Southern California Regional Rail Authority (SCRRA), a joint powers authority made up of an 11-member board representing the transportation commissions of Los Angeles, Orange, and Riverside, San Bernardino and Ventura counties. Metrolink operates seven routes through a six-county, 538 route-mile network. Metrolink's passengers travel approximately 441 million miles each year making Metrolink the second busiest public transportation provider in Southern California. Metrolink is the third largest commuter rail agency in the United States based on directional route miles and the eighth largest based on annual ridership. Contact: Person making the notification: Simone Fritz Investor Relations [email protected] --------------------------------------------------------------------------- 26.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: init innovation in traffic systems SE Käppelestraße 4-10 76131 Karlsruhe Germany Phone: +49 (0)721 6100 0 Fax: +49 (0)721 6100 399 E-mail: [email protected] Internet: www.initse.com ISIN: DE0005759807 WKN: 575980 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 708353 26.07.2018