Turku, Finland, 2017-10-30 09:00 CET (GLOBE NEWSWIRE) -- TELESTE CORPORATION INVESTOR NEWS 30.10.2017 AT 10:00
TELESTE HAS ACQUIRED IQU SYSTEMS GMBH, THE GERMAN PROVIDER OF INTELLIGENT PASSENGER INFORMATION SYSTEMS
Teleste has acquired iqu Systems GmbH, the German company specialised in intelligent passenger information systems and software. Through the acquisition, Teleste will complement its offering of passenger information solutions for public transport, one of the company’s key focus areas.
A major aim of the transaction is to strengthen Teleste’s capabilities as a provider of modular solutions that meet public transport operators’ demands for smooth and reliable delivery of passenger information. Teleste’s current offering for this segment will be complemented by iqu System’s business, which consists of software solutions, displays and related services. The company also holds a firm position in the German public transport market, which will enable Teleste to increase its market reach and presence in the area.
Joining forces represents an important opportunity for Teleste and iqu Systems to further expand their innovation and know-how in passenger information solutions for the benefit of public transport operators and passengers alike. As real-time information about routes, timetables or service disruptions is in increasing demand, the operators need to find solutions for communicating with passengers efficiently and accurately. Combining expertise and experience allows Teleste and iqu Systems to provide smart solutions that enable advanced management and access to information.
Established in 2003, iqu Systems GmbH provides modern display technologies and intelligent information management solutions for public transport operators. The company has a strong customer base in Germany, Poland, Austria and Switzerland.
In 2017, iqu Systems’s net sales are estimated to reach over EUR 2 million, but the acquisition does not have any significant impact on Teleste’s financial figures in the current year. iqu Systems employs about 20 people and it will be a part of Teleste’s Video Security and Information business unit.
Teleste offers an integrated product and service portfolio that makes it possible to build and run a better networked society. Our solutions bring television and broadband services to your home, secure your safety in public places and guide your use of public transport. With solid industry experience and drive for innovations, we are a leading international company in broadband, security and information technologies and related services. We connect with our customers through a global network of offices and partners. In 2016, Teleste’s net sales reached EUR 260 million and the company employed over 1500 people. Teleste is listed on Nasdaq Helsinki. For more information see www.teleste.com and follow @telestecorp on Twitter.
TELESTE CORPORATION
Jukka Rinnevaara
CEO
ADDITIONAL INFORMATION:
CEO Jukka Rinnevaara, phone +358 2 2605 611 or +358 400 747 488
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