Wireless communications provider Technisyst is ready to go global after its acquisition last week of Saab ITS and Saab Professional Systems from the global Saab Group.
Although the complete terms of the deal have not been disclosed, Technisyst will assume ownership of intellectual property related to the RAPID Bus Priority and Real Time Passenger Information System and the Tidal Flow Lane Control System.
RAPID improves the efficiency of public transport by tracking vehicles through GPS and requesting green lights for late running buses. The system also provides real time information to passengers at stops and interchanges using electronic signs that display arrival times of vehicles.
The RAPID system has been deployed through Auckland and is currently being rolled out in Victoria for the Melbourne SmartBus Project.
Technisyst plans to use the acquisition to expand operations through North America and Europe, said Technisyst CEO Bill Delaney, in a release.
"Independent research is showing us that the global market for this technology exceeds $8bn. Having already beaten a strong field of international competitors in Melbourne, Technisyst is now poised to carve out a significant piece of this global market," said Delaney.