3M to sell its tolling and ANPR business

3M has entered into agreements to sell its tolling and automated license/number plate recognition business, which is part of 3M’s Traffic Safety and Security Division, to Neology, a provider of integrated solutions for tolling, electronic vehicle registration and public safety applications. Neology is a subsidiary of Smartrac, a portfolio company managed by One Equity Partners, a middle-market private equity firm. 3M’s tolling solutions include RFID readers and tags, automatic vehicle classification systems

May 12, 2017 Read time: 1 min

4080 3M has entered into agreements to sell its tolling and automated license/number plate recognition business, which is part of 3M’s Traffic Safety and Security Division, to 8297 Neology, a provider of integrated solutions for tolling, electronic vehicle registration and public safety applications. Neology is a subsidiary of 6370 Smartrac, a portfolio company managed by One Equity Partners, a middle-market private equity firm.

3M’s tolling solutions include RFID readers and tags, automatic vehicle classification systems, lane controller and host software, and back office software and services. It also provides mobile and fixed cameras, software and services in automated license/number plate recognition. The business has annual global sales of approximately US$40 million.

Detection, Monitoring & Machine Vision Charging, Tolling & Road Pricing

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Neology

Smartrac

3M invests US$1.3 million in tolling technology testing

3M is investing $1.3million to expand its research center to develop and test tolling and public safety products, and customers can use it too. When 3M opened its Transportation Safety Research Center (TSRC) in the 1970s it was as an extension of its research facilities. More than a showcase for innovation, the center was—and continues to be—a dynamic outdoor laboratory where new traffic materials, systems, vehicle safety and public safety products are tested in real-world conditions. Now, with 3M expanding