07.09.2018
init innovation in traffic systems SE DE0005759807
DGAP-Adhoc: init innovation in traffic systems SE: Sound Transit intends to award electronic fare payment contract to init
DGAP-Ad-hoc: init innovation in traffic systems SE / Key word(s): Incoming
Orders
init innovation in traffic systems SE: Sound Transit intends to award
electronic fare payment contract to init
07-Sep-2018 / 08:04 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Chesapeake/Karlsruhe, 07 September 2018. The Central Puget Sound Regional
Transit Authority (Sound Transit) is a public transit agency serving the
urban areas of King, Pierce and Snohomish counties in the U.S. state of
Washington. Sound Transit serves as the contracting and procurement agency
for the ORCA fare card system. ORCA Agencies include Community Transit
(Snohomish County), Everett Transit, King County Metro (Seattle), Kitsap
Transit, Pierce Transit (Tacoma), Sound Transit, and Washington State
Ferries.
The Operations and Administration Committee of the Sound Transit Board of
Directors has recommended to contract with INIT Innovations in
Transportation, Inc. - a wholly owned US subsidiary of init innovation in
traffic systems SE (ISIN DE 0005759807) - for delivery and operation of
their next generation ORCA system, to provide their customers with flexible,
convenient and secure electronic fare payments. The award is subject to
confirmation by the ORCA Joint Board and the Sound Transit Board of
Directors. Provided that these boards approve, the contract is expected to
be signed shortly after the final Board approval. After successful contract
closure, init anticipates a four-year contract initially valued at
approximately $ 50m with eleven additional one-year operations and
maintenance options for a final total amount exceeding $ 90m, which would be
the largest order in its group history.
Contact:
Person making the notification:
Simone Fritz
Investor Relations
[email protected]
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07-Sep-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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 Announcement DGAP News Service
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721523 07-Sep-2018 CET/CEST
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