RSS108 Q-Free has increased its stake in US traffic controller supplier, 7316 Intelight, with a five year option program which will give shareholders the option to sell shares at closing in 2015 and in five subsequent years valid from 2016. The deal will give Q-Free the opportunity to add some 15 per cent of Intelight shares to its current 10.2 per cent shareholding each year. At end of the five year period, Q-Free has the option to acquire the rest of the shares. The first transaction will be closed during the second quarter 2015 and is expected to bring Q-Free’s total shareholdings in the company up to approximately 25 per cent. The activity of Intelight will be consolidated in the Q-Free accounts from the closing date of the first transaction.
Founded by Craig Gardner and headquartered in Tucson, Arizona, Intelight manufactures innovative traffic management products including advanced traffic controllers, traffic control cabinets, smart signals and web-based central software systems. The company is among the leading suppliers of systems and services to the US market for urban traffic management. Gardner will remain on the Intelight board and as the company’s current president.
Intelight’s products and services are based on the most recent technology and open platforms, making the company able to meet a broader range of future demands in the North American market.
“Intelight has been part of our advanced traffic management systems strategy since 2013 and the company fits well into our portfolio. Together with Q-Free Elcom, Intelight enables Q-Free to meet demands from urban traffic management markets in all selected regions, supporting our global strategy. The acquisition will increase the number of employees to 130 in the US and will also increase revenue synergies for the existing Q-Free activities in this market,” says Q-Free CEO Thomas Falck.
“All employees are very enthusiastic about the opportunity to become part of a large international operation with a global network. The additional market exposure and availability of resources will contribute to further expansion of our business together with the rest of the Q-Free family,” says Gardner.
Founded by Craig Gardner and headquartered in Tucson, Arizona, Intelight manufactures innovative traffic management products including advanced traffic controllers, traffic control cabinets, smart signals and web-based central software systems. The company is among the leading suppliers of systems and services to the US market for urban traffic management. Gardner will remain on the Intelight board and as the company’s current president.
Intelight’s products and services are based on the most recent technology and open platforms, making the company able to meet a broader range of future demands in the North American market.
“Intelight has been part of our advanced traffic management systems strategy since 2013 and the company fits well into our portfolio. Together with Q-Free Elcom, Intelight enables Q-Free to meet demands from urban traffic management markets in all selected regions, supporting our global strategy. The acquisition will increase the number of employees to 130 in the US and will also increase revenue synergies for the existing Q-Free activities in this market,” says Q-Free CEO Thomas Falck.
“All employees are very enthusiastic about the opportunity to become part of a large international operation with a global network. The additional market exposure and availability of resources will contribute to further expansion of our business together with the rest of the Q-Free family,” says Gardner.
