Q-Free increases share capital

Norwegian tolling specialist Q-Free has acquired TDC Systems which develops products for traffic counting and classifying, weigh-in-motion, cycle and pedestrian detection, traffic signal prioritisation and tunnel monitoring as well as sensors and software for travel-time detection and air quality monitoring. UK-headquartered TDC has offices in Australia and Malaysia with customers in 50 countries around the world.

Q-Free reported 22 per cent increase in revenues to US$28 million in the first quarter of 2014, reflecting continued growth for products and service and maintenance but lower projects revenues. Operating profit (EBIT) increased to US$166,000 from an operating loss of US$8.8 million in the first quarter of 2013; pre-tax profit improved to US$333,000 from a loss of US$9.1 million in the same period last year.

Following its recent acquisition of TDC Systems in the UK, Q-Free is to acquire Slovenian company Traffic Design, an acquisition that reflects a continuation of Q-Free’s strategy to strengthen its business within Advanced Transportation Management Systems (ATMS). Traffic Design was established in 1990 and is the market leader in traffic management, parking systems and tolling in Slovenia. The company has installed traffic management and parking systems nationwide and is the operator of the country’s tol