ST. PAUL, Minn., April 17, 2023 (GLOBE NEWSWIRE) -- Miovision, whose scalable intelligent transportation solutions help cities reduce traffic congestion while improving safety, has acquired Global Traffic Technologies (GTT).
GTT, whose Opticom product line is a market-leading emergency pre-emption and traffic signal priority solution, was one of eight operating companies within the Vontier Corporation, who sold the company to Miovision for US$107 million.
“We’re excited to welcome the team behind GTT’s market-leading priority control solution to Miovision,” said Miovision CEO Kurtis McBride. “By providing green light priority, Opticom can reduce emergency response times by up to 25% and emergency vehicle crashes at the intersection by up to 70% while improving the on-time efficiency of public transit. This acquisition builds on our existing product partnership with GTT and allows us to fully integrate GTT’s solution onto the Miovision platform.”
“Becoming part of Miovision will give our customers access to an expanded suite of solutions for improving safety and optimizing urban transportation,” said Global Traffic Technologies President Terry Griffith. “Further integrating our solution within the Miovision platform will accelerate development and ensure continued improvement of our priority control solution for transit and emergency responders.”
“Miovision is an excellent strategic fit for GTT and this combination will undoubtedly enable both companies to better serve their customers long-term,” said Mark Morelli, President and Chief Executive Officer at Vontier.
GTT customers will continue to be supported by Miovision. The addition of GTT brings the total number of intersections in which Miovision has a presence in North America to nearly 100,000.
Under the terms of the deal, GTT staff will become Miovision employees. With the previous acquisitions of US-based Traffop and Rapid Flow and Miovision’s US-based president and CFO, this brings the company’s presence in the US – a key market – to over 100 people.
About Miovision:
Miovision enables cities to reduce traffic congestion and vehicle emissions while improving public safety through scalable intelligent transportation solutions.
Our AI-powered platform helps communities improve traffic efficiency at the intersection and make roads safer for all types of road users – vehicles, bicycles and pedestrians.
Miovision is headquartered in Kitchener, Canada, and has offices in Germany, Serbia, and the US. Since 2005, our systems have detected over 30 billion vehicles and 1.5 billion pedestrians, assisting nearly 2,000 customers in 63 countries. For more information, visit miovision.com.
About Global Traffic Technologies (GTT)
Global Traffic Technologies is the most trusted name in the traffic management industry, with a 58-year history of unrivaled innovation and leadership. Opticom, its flagship product, dominates the market as the world's leading provider of priority control solutions, with the largest breadth of deployment in North America – nearly 180,000 intersections and vehicles enabled. These impressive statistics reflect the unwavering reliability and unmatched effectiveness of Opticom's technology.
About Vontier
Vontier is a global industrial technology company uniting critical mobility and multi-energy technologies and solutions to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier enables the way the world moves – delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement built upon the foundation of the Vontier Business System and embraced by over 8,500 colleagues worldwide. Additional information about Vontier is available on the Company’s website at www.vontier.com.
