Miovision, whose transportation services look to help cities reduce traffic congestion while improving safety, has purchased Global Traffic Technologies, a company that offers an emergency pre-emption and traffic signal service, from Vontier Corp. for $107 million.
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. The previous acquisitions of U.S.-based Traffop and Rapid Flow, and Miovision’s U.S.-based president and CFO, brings the company’s presence in the U.S. to over 100 people. GTT customers will continue to be supported by Miovision.
“This acquisition builds on our existing product partnership with GTT and allows us to fully integrate GTT’s solution onto the Miovision platform,” says Kurtis McBride, Miovision CEO.