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Traffic Technologies kicks $1.4 million World Cup goal in Qatar

April 13, 2022

Traffic Technologies kicks $1.4 million World Cup goal in Qatar

The 2022 FIFA World Cup in Qatar is still seven months away but the Australian team behind Traffic Technologies’ smart city platform has already scored a major victory.

The 2022 FIFA World Cup in Qatar is still seven months away but the Australian team behind Traffic Technologies’ smart city platform has already scored a major victory.

On Monday, the company revealed itself as the winner of a contract to supply Qatar with its Smart City traffic controllers and software in time for the upcoming soccer tournament.

The deal is expected to bring in $1.4 million annually for the company, which produces hardware and software for traffic management, internet-of-things (IoT) and smart city applications.

Traffic Technologies MD Con Liosatos said the contract marked an important moment in the company’s growth story.

“This contract is a milestone for the business as it represents a significant strategic opportunity to deploy next-generation Smart City technology in an expanding overseas market,” he said.

“We see this as a pivotal step for the company in providing SaaS across our markets and in particular using digital technology to manage multiple transport systems around the world, including autonomous vehicles in the future.”

The system to be rolled out in Qatar will allow traffic management organisations to create virtual representations of intersections added to the Smart City network, including across multiple transport systems, enabling better traffic management and even special prioritisation for buses during the upcoming World Cup.

Traffic Technologies MD Con Liosatos will be holding an investor briefing on Thursday 28th April at 11am (AEST), where he will provide an overview of TTI’s SaaS technology, its recent contract wins and plans to expand the business. Click here to book in.

Reach Markets has been engaged by Traffic Technologies to assist with investor communications.

Sources


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