KITCHENER, Ontario, March 04, 2024 (GLOBE NEWSWIRE) — Miovision, a company that helps cities manage traffic flow and improve safety, has acquired TTS, a company which develops technology connecting vehicles to traffic lights, enhancing traffic flow and safety with their main product, Personal Signal Assistant. Miovison offer solutions to collect traffic data and provide insights to optimize traffic lights, identify congestion, and enhance pedestrian safety, ultimately aiming for smoother and safer roads. This acquisition of TTS is expected to help Miovision expand its V2X solutions.
TTS provides the connection to traffic infrastructure that powers solutions like Audi Traffic Light Information: a first of its kind, innovative offering that assists vehicle operators to identify optimum speeds to avoid red lights and reduce fuel consumption as well as allowing customers to spend time more productively knowing when a red light will turn green. TTS has agreements with 180 agencies, providing insights from 80,000 intersections. This powers in-vehicle solutions while providing traffic network data insights to traffic agencies.
“TTS is the pioneer in V2X services, and over the past 10 years, this team has established relationships with public traffic agencies and traffic control companies around the world to make V2X a reality,” said Miovision CFO Joe Custer. “TTS’s patented technology is the only real-time “situational awareness” service directly available to drivers through the vehicle’s instrument panel. It offers a differentiated driver experience. TTS adds an exciting new dimension to Miovision’s array of solutions. We look forward to scaling this critical service to all automotive OEM’s and fleet operators across all signalized traffic intersections in Canada, U.S., Europe, and other places. Moreover, our intention is to save lives, reduce energy consumption, and increase productivity across all vehicle fleets globally.”
“Becoming part of Miovision immediately helps us expand the footprint and scope of our services,” said Thomas Bauer, the CEO of TTS. “Miovision’s relationships with agencies, including transportation, emergency services, and transit agencies, provide exciting new opportunities. Moreover, these opportunities aim to deliver compelling connected vehicle applications and services.”
Miovision will continue to support innovative in-car applications like Audi Traffic Light Information. It is one of the first commercially available vehicle-to-everything (V2X) applications. Meanwhile, the company will expand what’s possible by providing richer data sets to support new in-car applications.
Miovision financed this acquisition in part thanks to debt financing provided by Export Development Canada (EDC).
“TTS’s V2X technology is a critical element in the future of intelligent traffic management. It improves the overall experience and safety for the driver and municipalities around the world,” said Rami Gabriel, Vice President, Mid-Market Growth Business, EDC. “This important acquisition immediately strengthens Miovision’s market and technical leadership in this space. It enhances the overall competitiveness of the company as they continue to grow. Miovision continues to take necessary steps to build out their products and services. Moreover, they provide communities all over the world with greener and safer roadways. With reduced traffic congestion, less vehicle emissions and now increased driver connectivity, Miovision is the future of global traffic management.”
After the acquisition, TTS executives and team members will become Miovision employees. They will be responsible for continuing to support and develop TTS’s leading V2X solutions. The acquisition includes TTS’s eleven patents. These patents cover applications relevant to improving transit and emergency vehicle response, as well as traffic signal optimization. This acquisition expands Miovision’s presence to 80,000 TTS intersections. It brings the total number of intersections with Miovision solutions to over 170,000.
Miovision will continue to support all agreements in place with TTS’s partners, including 180 agencies. These agencies provide the traffic signal data that powers the solution and receive valuable insights about their traffic network. Additionally, Miovision supports their technology partners and OEM customers like the VW Group.
This is Miovision’s sixth acquisition in less than three years, following on Traffop (signal performance measures), Rapid Flow (adaptive signal control), MicroTraffic (safety analytics), Global Traffic Technologies – GTT (traffic signal preemption & priority) and CJ Hensch (traffic data collection services).
