DGAP-Adhoc: init innovation in traffic systems SE: METRO Houston, Texas intends to award an order of well over USD 30 million to init
DGAP-Ad-hoc: init innovation in traffic systems SE / Key word(s): Incoming Orders/Contract
init innovation in traffic systems SE: METRO Houston, Texas intends to award an order of well over USD 30 million to init
27-Feb-2020 / 19:03 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.
The Board of Directors of Metropolitan Transit Authority of Harris County (METRO) has adopted the proposal from the Administration Committee to contract with INIT Innovations in Transportation, Inc. - a wholly owned US subsidiary of init innovation in traffic systems SE (ISIN DE 0005759807) - for the delivery of an account based Automated Fare Collection System.
METRO is the public transit agency serving the Houston and Harris County metropolitan area in Texas.
The contract is expected to be signed in the second quarter of 2020. Following the successful conclusion of the contract, init expects a contract value of well over USD 30 million.
Contact:
Person making the notification:
Simone Fritz
Investor Relations
ir@initse.com
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985719 27-Feb-2020 CET/CEST