Last checked at 12 Jul 2021 07:00
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
12 July 2021
Journeo plc
("Journeo", "Company" or "the Group")
Cloud-based video management and software services for Abellio
Journeo plc (AIM: JNEO), the information systems and transport technical services group, is pleased to report that further to the announcement on 3 August 2020 regarding a 3-year framework contract renewal with Abellio London Bus, it has received purchase orders to install Journeo Edge IoT gateways to connect Abellio's entire fleet of over 900 vehicles over 4G to Journeo's cloud-based video management software and services.
The value of the order and additional monthly software and services revenue is £0.5m of which £0.3m is expected to be delivered and recognised in the current financial year.
Abellio won Bus Operator of the Year at the 2020 London Transport Awards. Operating 852 buses and 77 ancillary vehicles on 53 London routes they have around 9% of the market in the capital and played a key role in keeping key workers moving during the pandemic, with Transport for London adapting services to reflect both customer demand and staff availability.
Jon Eardley, Engineering Director of Abellio London bus commented "Journeo's innovative technology, software and services have been integrated into our business systems for a number of years, helping us to improve safety and efficiency at the same time as enhancing the passenger travel experience. The addition of the Journeo Edge gateway and advanced modules unlocks further system integration potential and will serve as a fantastic platform for future IoT technologies to keep our fleet connected".
Russ Singleton, Chief Executive of Journeo plc, commented: "We are delighted to be working as technology partners with Abellio and deliver the first fleet-wide bus deployment in London of cloud-based video management and software services. A growing number of operators are adopting our SaaS based solutions to improve performance and drive down costs where we are able to combine end-to-end security and scalable architecture with intuitive software and responsive support services".
A digital copy of this announcement will be available on the Group's website: www.journeo.com.
For further information, please contact:
Journeo plc Russ Singleton/ Nick Lowe | +44 (0) 844 871 7990 |
WH Ireland - Nominated Adviser and Broker Mike Coe | +44 (0) 117 945 3470 |
Communications Portfolio Ariane Comstive | +44 (0) 7785 922 354
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Notes to editors:
Journeo plc is an information systems and technical services business focussed on public transport and related infrastructure within towns, cities, airports, and local authorities. The Company works extensively with local government departments, combined authorities, and many of the largest multinational transport operators, supporting them as systems converge towards a more efficient and sustainable smarter-cities future.
The business currently comprises two segments:
· Fleet operator solutions: CCTV video surveillance to improve passenger & driver safety, telematics for vehicle and driver performance monitoring, real-time communications for remote condition monitoring and automatic passenger counting.
· Passenger transport infrastructure solutions: design, manufacture, installation, and management of hardware and software for electronic public transport information systems, in and around towns, cities, ferry terminals and airports which includes smart-ticketing and wayfinding.
In the last few years, the Company has invested around £5m in research and development, enabling it to design and supply the very best solutions for customers' complex requirements and the demands of modern public transport. With an Internet of Things (IoT) approach and open standards, together with field-proven and reliable engineering, Journeo is able to offer flexible, scalable products and services that can integrate with existing technology while preparing for future advancements.
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