£3.5m Framework Agreement
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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.
1 September 2025
Journeo plc
("Journeo" or the "Company")
£3.5m Framework Agreement
Journeo plc (AIM: JNEO), a leading provider of information systems and technical services to transport operators and local authorities, is pleased to announce a variation to the £10m First Bus UK ("First Bus") framework agreement (the "Variation Agreement") announced on 14 May 2025 which runs for three-years through to March 2028, enabling Journeo to install technology and provide engineering services across the recently acquired bus fleet of First Bus London.
The Variation Agreement is expected to generate an additional £3.5m in revenues, with an option to extend the term by a further two-years through to March 2030.
In February 2025, First Group announced the acquisition of RATP Dev Transit London, which now operates as First Bus London, marking the Group's entrance into bus operations in London. Prior to the acquisition, RATP London had around a 12% market share of bus operations in the UK capital, including a fleet of around 1,000 buses and 90 Transport for London route contracts.
The Variation Agreement comprises the provision of Journeo's latest 5G vehicle gateway allowing a secure connection to the Journeo Portal, Journeo's SaaS solution, which offers operators access to critical video to support rapid incident investigation. Furthermore, Journeo will supply the latest digital CCTV solutions and its digital wing mirror technology on new vehicles entering the fleet and across all vehicles, will offer field service maintenance that is optimised using Journeo's remote condition monitoring capability built into the Journeo EDGE.
Russ Singleton, Chief Executive Officer, commented:
"We are delighted to extend our relationship with First Bus into London and are excited to be part of the journey they are taking as they expand their operations and accelerate towards decarbonised public transport."
A digital copy of this announcement will be available on the Group's website: www.journeo.com.
For further information, please contact:
|
Journeo plc |
+44 (0) 203 651 9166 |
|
Cavendish Capital Markets Limited - Nominated Adviser and Broker |
+44 (0) 207 220 0500 |
Notes to editors:
Journeo plc is a leading Intelligent Transport Systems provider, delivering solutions in towns, cities, airports and the public transport networks that connect them. The Company works extensively with local and combined authorities, Network Rail and many of the largest multinational transport operators, supporting them as systems converge towards a more efficient and sustainable future.
The business has five operating companies:
· Journeo Fleet Systems: CCTV video surveillance to improve passenger & driver safety, telematics for vehicle and driver performance monitoring, real-time communications for remote condition monitoring and automatic passenger counting.
· Journeo Passenger Systems: design, manufacture, installation, and management of hardware and software for electronic public transport information systems, in and around towns, cities, ferry terminals and airports which includes smart-ticketing and wayfinding.
· Infotec: design, advanced manufacture, installation and software management of information displays hardware for rail applications in stations, on-platform and on-vehicle.
· Journeo AS (based in Aarhus, Denmark): full-service provider of Intelligent Transport Systems ("ITS") with customers in Denmark, Sweden and Iceland.
· Journeo AB (based in Stockholm, Sweden): technical services provider to public transport customers in Sweden.
In the last 4 years, the Company has invested over £6 million in research and development, enabling it to design and supply powerful innovative solutions for customers' complex requirements and the demands of modern public transport. With an Internet of Things ("IoT") approach and open standards, together with field-proven and reliable engineering, Journeo is able to offer flexible, scalable products and services that can integrate with existing technology while preparing for future advancements.
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