Q-Free is to acquire Serbian traffic management company Elcom in a deal worth US$1.8 million. Q-Free has signed a share purchase agreement (SPA) for the acquisition which it says reflects the company’s efforts to strengthen its business area within advanced transportation management systems (ATMS) and follows a US$1 million investment in ten percent ownership of US traffic management company Intelight.
Established in 1994, Elcom offers traffic controllers, LED street lights and traffic control system sol
Established in 1994, Elcom offers traffic controllers, LED street lights and traffic control system solutions based on its own and third party products. Q-Free believes that Intelight will be an important strategic partner for Elcom.
In the long term, Q-Free expects the markets for ATMS and road user charging to converge into a joint market for intelligent transportation systems (ITS), both technologically and commercially and considers Elcom’s products and services as a natural expansion of its product offering.
Q-Free CEO Øyvind Isaksen says the Elcom and Intelight products are key to the ATMS sector, which is important to the development of Q-Free’s business.
