Software contract win for transport tech company
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A large contract win for Tracsis – which provides software, hardware and services for transport industries – will help it exceed market expectations for its full year EBITDA.
The listed Leeds-based company has been awarded a multi-year contract in the UK for its RailHub software product suite.
RailHub is a digital platform developed by Tracsis subsidiary OnTrac, that allows railway workers to plan and deliver safer work on the railways by providing better and more visual information.
Improving safety is a key priority area for the rail industry, which has a focus on eradicating fatalities on or near the railway line, reducing near misses and reducing lost time accidents in rail and construction environments.
This contract will double RailHub’s user base to over 30,000 individuals, reflecting the growing momentum in UK rail’s shift to digital.
Tracsis has also today reported ongoing growth in Rail Technology & Services and Data Analytics/GIS and a post Covid recovery in business activity levels in its Traffic Data and Events business units.
Chris Barnes, chief executive officer, said: “We are delighted to have secured this major new software contract win, which strongly aligns with the industry’s ongoing investment in a digital railway as outlined in the recent ‘William-Shapps Plan for Rail’.
“This win further cements RailHub as an industry leading piece of software and reinforces the reputation of Tracsis as a fast-to-market innovator of products and services for the rail industry.”