Norwegian-headquartered tolling specialist 108 Q-Free is to acquire 100 per cent of the shares of 7045 TCS International (TCS).
Established more than ten years ago, TCS has fifteen employees, with offices in Boston, US, and a subsidiary in Toronto, Canada. The company provides advanced transportation management systems (ATMS), specialising in intelligent parking guidance and management systems. TCS offers consulting solutions and systems design for a wide range of clients including cities, transportation organisations, airports, hospitals, convention and shopping centres, casinos, colleges, and large employer parking lots.
“TCS is a market leader within parking guidance systems in the US and Canada, and as such will form a strong basis for further growth within the parking technology market, both inside and outside north America. Furthermore this acquisition represents an important first step towards building an ATMS business line in Q-Free, adding to our strong tolling activity. This will over time enable increased underlying business and hence decrease the dependency of larger tolling projects”, comments Q-Free CEO, Dr Øyvind Isaksen.
TCS general manager Greg Parzych will continue in that role after the acquisition. He says, “We are looking forward to be an integrated part of a larger world-wide company facilitating both better market reach and new innovative common solutions”.
Isaksen further comments that, “Advanced transportation management and road user charging will over time converge, both from a market and technology platform perspective, and as such it is important for Q-Free to build capabilities in both these areas”.
Established more than ten years ago, TCS has fifteen employees, with offices in Boston, US, and a subsidiary in Toronto, Canada. The company provides advanced transportation management systems (ATMS), specialising in intelligent parking guidance and management systems. TCS offers consulting solutions and systems design for a wide range of clients including cities, transportation organisations, airports, hospitals, convention and shopping centres, casinos, colleges, and large employer parking lots.
“TCS is a market leader within parking guidance systems in the US and Canada, and as such will form a strong basis for further growth within the parking technology market, both inside and outside north America. Furthermore this acquisition represents an important first step towards building an ATMS business line in Q-Free, adding to our strong tolling activity. This will over time enable increased underlying business and hence decrease the dependency of larger tolling projects”, comments Q-Free CEO, Dr Øyvind Isaksen.
TCS general manager Greg Parzych will continue in that role after the acquisition. He says, “We are looking forward to be an integrated part of a larger world-wide company facilitating both better market reach and new innovative common solutions”.
Isaksen further comments that, “Advanced transportation management and road user charging will over time converge, both from a market and technology platform perspective, and as such it is important for Q-Free to build capabilities in both these areas”.
