Tracsis to provide software planning products for major UK rail operator
Transport solutions provider Tracsis has won a multi-million pound contract from a major UK rail operator to provide important software planning products.
The company did not specify the name of the operator due to the agreed terms of commercial confidentiality.
The contract is to be delivered over four years and will also see Tracsis renew several existing systems previously licensed by the customer.
Tracsis chief executive officer John McArthur said: “We are absolutely delighted to have secured this major contract with a long-standing rail customer, and look forward to delivering this project in the coming months.
“The size and scale of the project is significant for Tracsis and represents the wholescale change that UK transport is going through in adapting to the growing operational demands placed upon the network.
“This win is testament to our team and our product suite, and we believe successful delivery of this project will lead to our Enterprise systems being adopted elsewhere in the fullness of time.”
Tracsis was awarded the contract following a comprehensive procurement process, which saw the company demonstrate the functionality and value of existing software products along with its newest innovations.
The company expects to finish the contracted works within the stipulated time and to the satisfaction of the customer, which in turn will provide a high degree of recurring revenue beyond the four-year period.
The contract is also expected to enable Tracsis to secure additional technology projects with other transport operators, both within the UK and abroad.
Digitallook.com reported that Tracsis shares rose by 16% following the awarding of the contract.
The company previously received a Modern Railways Industry Innovation Award in the Operations and Performance category for its TRACS Enterprise research management software last month.