TURKU, Finland, Oct. 30, 2017 /PRNewswire/ -- Teleste Corporation announced today that it has acquired iqu Systems GmbH, the German company specialised in intelligent passenger information systems and software. Through the acquisition, Teleste will complement its offering of passenger information solutions for public transport, one of the company's key focus areas.
A major aim of the transaction is to strengthen Teleste's capabilities as a provider of modular solutions that meet public transport operators' demands for smooth and reliable delivery of passenger information. Teleste's current offering for the segment will be complemented by iqu System's business, which consists of software solutions, displays and related services. The company also holds a firm position in the German public transport market, which will enable Teleste to increase its market reach and presence in the area.
"We appreciate the deep experience iqu Systems has in the German public transport market and regard their understanding of customer requirements as a valuable asset when further developing our offering for public transport operators. The public transport segment is one of the key focus areas for Teleste, and we aim to be the best partner for our customers when it comes to delivery and management of passenger information. We are confident that, together with iqu Systems, we will be able to answer the market's expectations even better than before", shared Esa Harju, Head of Teleste's Video Security and Information Business unit.
Joining forces represents an important opportunity for Teleste and iqu Systems to further expand their innovation and know-how in passenger information solutions for the benefit of public transport operators and passengers alike. As real-time information about routes, timetables or service disruptions is in increasing demand, the operators need to find solutions for communicating with passengers efficiently and accurately. Combining expertise and exprerience allows Teleste and iqu Systems to provide smart solutions that enable advanced management and access to information.
"We are delighted to join Teleste as the acquisition enables us to reach a wider market in passenger information solutions and serve our existing customers with a larger team. Due to our previous cooperation with Teleste, we know each other's expertise and strengths, which will help us increase our market share in the public transport business", states Stephan Brünig, Managing Director of iqu Systems.
iqu Systems will continue with its current management as an independent company, as part of the Video Security and Information business unit within Teleste's Video and Broadband Solutions Business area. No personnel reductions are planned as a result of the acquisition.
Inquiries for more information:
Senior Vice President of Video Security and Information
Director of Communications, Teleste Corporation
Teleste offers an integrated product and service portfolio that makes it possible to build and run a better networked society. Our solutions bring television and broadband services to your home, secure your safety in public places and guide your use of public transport. With solid industry experience and drive for innovations, we are a leading international company in broadband, security and information technologies and related services. We connect with our customers through a global network of offices and partners. In 2016, Teleste's net sales reached EUR 260 million and the company employed over 1500 people. Teleste is listed on Nasdaq Helsinki. For more information see www.teleste.com and follow @telestecorpon Twitter.
About iqu Systems
Established in 2003, iqu Systems GmbH provides modern display technologies and intelligent information management solutions for public transport operators. The company has a strong customer base in Germany, Poland, Austria and Switzerland. As of 27 October 2017, iqu Systems is part of the Teleste Group. For more information, see www.iqusystems.com.
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SOURCE Teleste Corporation