Shares in British traffic technology firm ITIS Holdings surged in value on Wednesday after it announced a deal to supply Ford with traffic messaging on cars bound for the UK market, according to a Reuters report.
Go deeper with GlobalData
The report said that the deal involves some 70,000-100,000 cars a year and will put ITIS’s RDS-TMC systems in Ford’s Mondeo model immediately and extend the service across Ford’s model ranges as well as models in Ford’s PAG group – Land Rover, Aston Martin, Volvo and Jaguar.
The RDS-TMC traffic messaging system, which ITIS already supplies to BMW, gives drivers real-time traffic and route management data in a tie-up with car services firm the Automobile Association (AA).
“It crosses the line and takes the service out of the luxury car market,” ITIS Chief Executive Stuart Marks told Reuters in a telephone interview.
“A lot of analysts have questioned whether the manufacturers would actually invest in the (telematics) market and this is good news for the whole market,” he added.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
