KITCHENER, Ontario, March 04, 2024 (GLOBE NEWSWIRE) -- Miovision, whose scalable intelligent transportation solutions help cities reduce traffic congestion while improving safety, has made its sixth acquisition: Traffic Technology Services (TTS) – the leading provider of connected vehicle technologies.
TTS provides the connection to traffic infrastructure that powers solutions like Audi Traffic Light Information: a first of its kind, innovative offering that assists vehicle operators to identify optimum speeds to avoid red lights and reduce fuel consumption as well as allowing customers to spend time more productively knowing when a red light will turn green. TTS has agreements with 180 agencies, providing insights from 80,000 intersections, to power in-vehicle solutions while providing traffic network data insights to traffic agencies.
“TTS is the pioneer in V2X services, and over the past 10 years, this team has established relationships with public traffic agencies and traffic control companies around the world to make V2X a reality,” said Miovision CFO Joe Custer. “TTS’s patented technology is the only real-time “situational awareness” service directly available to drivers through the vehicle’s instrument panel offering a differentiated driver experience. TTS adds an exciting new dimension to Miovision’s array of solutions and we look forward to scaling this critical service to all automotive OEM’s and fleet operators across all signalized traffic intersections in Canada, U.S., Europe, and other places. Our intention is to save lives, reduce energy consumption, and increase productivity across all vehicle fleets globally.”
“Becoming part of Miovision immediately helps us expand the footprint and scope of our services,” said Thomas Bauer, the CEO of TTS. “Miovision’s relationships with agencies – including transportation, emergency services and transit agencies – provide exciting new opportunities to deliver compelling connected vehicle applications and services.”
Miovision will continue to support innovative in-car applications like Audi Traffic Light Information – one of the first commercially available vehicle-to-everything (V2X) applications – while expanding what’s possible by providing richer data sets to support new in-car applications.
Miovision financed this acquisition in part thanks to debt financing provided by Export Development Canada (EDC).
“TTS’s V2X technology is a critical element in the future of intelligent traffic management, improving the overall experience and safety for the driver and municipalities around the world,” said Rami Gabriel, Vice President, Mid-Market Growth Business, EDC. "This important acquisition immediately strengthens Miovision's market and technical leadership in this space, enhancing the overall competitiveness of the company as they continue to grow. Miovision continues to take necessary steps to build-out their products and services providing communities all over the world with greener and safer roadways. With reduced traffic congestion, less vehicle emissions and now increased driver connectivity, Miovision is the future of global traffic management."
With this acquisition, TTS executives and team members will become Miovision employees responsible for continuing to support and develop TTS’s leading V2X solutions. Included in the acquisition are TTS’s eleven patents, covering applications relevant to improving transit and emergency vehicle response as well as traffic signal optimization. This acquisition expands Miovision’s presence to 80,000 TTS intersections, bringing the total number of intersections with Miovision solutions to over 170,000.
Miovision will continue to support all agreements in place with TTS’s partners, including 180 agencies, who provide the traffic signal data that powers the solution and receive valuable insights about their traffic network, along with their technology partners and OEM customers like the VW Group.
This is Miovision’s sixth acquisition in less than three years, following on Traffop (signal performance measures), Rapid Flow (adaptive signal control), MicroTraffic (safety analytics), Global Traffic Technologies - GTT (traffic signal preemption & priority) and CJ Hensch (traffic data collection services).
To learn more about this acquisition, read the interview with Joe Custer and Thomas Bauer at miovision.com.
About Miovision
Miovision enables cities to reduce traffic congestion and vehicle emissions while improving public safety through scalable intelligent transportation solutions.
Our AI-powered platform helps communities improve traffic efficiency at the intersection and make roads safer for all types of road users – drivers, cyclists and pedestrians.
Together, Miovision’s permanent and portable systems have detected more than 77 billion vehicles and 3 billion pedestrians and cyclists, providing accurate, actionable traffic data and insights that help make transportation safer and more efficient for all.
Miovision is headquartered in Kitchener, Canada, and has offices in Germany, Serbia, and the US. Since its start in 2005, Miovision has served nearly 2,000 customers in 63 countries. For more information, visit miovision.com.
