Journeo plc (LSE:JNEO) has renewed its technology framework agreement with Transport UK London Bus, with the five-year arrangement expected to generate approximately £6 million in revenue through October 2031.
The agreement covers the provision of vehicle security, communications and data management technology across Transport UK London Bus’s fleet, which comprises approximately 1,000 buses operating on more than 65 Transport for London services.
Under the renewed framework, Journeo will supply CCTV systems, vehicle gateway technology and associated equipment for both existing vehicles and new additions to the operator’s fleet, including ancillary vehicles.
The agreement also provides for vehicles to be connected to the company’s Journeo Portal, a secure software-as-a-service (SaaS) platform designed to support the collection, management and retrieval of operational information.
Through the platform, Transport UK London Bus will be able to access vehicle data and compile evidence packages relating to operational incidents. The system also enables information to be shared securely with authorised third parties, including the Metropolitan Police.
The framework renewal continues an established commercial relationship between the two companies. Transport UK London Bus was among the early adopters of Journeo’s on-board technology and its cloud-based portal system.
The renewed arrangement provides a framework for the continued supply and integration of Journeo’s technology across the operator’s London bus services over the next five years.
Journeo’s systems combine on-vehicle hardware with centralised software capabilities, allowing transport operators to retrieve recorded information and manage operational data through a common platform.
The company said the agreement supports its activities in the London bus market and contributes to its revenue base through the provision of technology, associated services and software.
The expected £6 million contract value covers the period through October 2031, although the supplied announcement does not specify an annual revenue schedule or the proportion attributable to recurring software services.
The agreement forms part of Journeo’s wider business supplying integrated technology solutions to public transport operators and infrastructure customers in the United Kingdom.
About Journeo plc
Journeo plc (LSE:JNEO) is a UK-based technology company providing intelligent transport systems and infrastructure technology solutions.
The group operates through six businesses, supplying products and services including vehicle CCTV, telematics, communications systems, passenger information technology and infrastructure protection equipment.
Its customers include bus and rail operators, local authorities and organisations responsible for utilities, defence facilities and other infrastructure.
Journeo develops systems using Internet of Things (IoT) connectivity and open technology standards, enabling integration with existing equipment and future system upgrades.
The company has invested more than £10 million in research and development over the past five years, supporting its development of transport and infrastructure technology.
Its software products include the Journeo Portal, a SaaS platform providing secure access to operational data, video recordings and information management tools.
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