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IBI Group (TSX:IBG) secures four-year transport management contract

Technology
TSX:IBG
30 September 2020 16:04 (EDT)
IBI Group Inc. - CEO, Scott Stewart

Source: IBI Group

IBI Group (IBG) has secured a four-year Airport Ground Transportation Management System (GTMS) contract in New York and New Jersey.

Awarded by the Port Authority of New York and New Jersey (PANYNJ), the digital and technology firm will use its cloud-hosted Smart Airport Taxi – Virtual Dispatch System to connect travellers with transportation.

The technology is currently being rolled out at the JFK, LaGuardia, and Newark airports, and once operation will eliminate the need for large holding areas where taxis typically queue by connecting travellers to drivers using a mobile application.

Tissa De Silva, Director and Senior Practice Lead of Intelligent Systems at IBI Group, said the technology will save airport operators and commercial vehicle drivers valuable time and resources.

“We look forward to working with PANYNJ to ensure its airports are equipped with a leading-edge, responsive and flexible ground transportation management system for years to come,” he added.

In addition to a wide range of efficiency features, the technology also collects and provides information to airport ground transportation operators related to the health of drivers and the cleanliness of their vehicles.

It’s expected that the mobile application will soon connect all New York City Yellow Cabs and New Jersey Cabs to PANYNJ’s virtual dispatch system.

Scott Stewart, CEO of IBI Group, also commented on the new contract.

“An exciting win for our software and systems team, this multi-year contract contributes to our goal of generating 20 per cent of net revenue by the end of 2020 from our Intelligence sector.

“As we continue to realise our technology-driven strategic direction, I’m excited by the new solutions our professionals are bringing to bear to foster smarter, more efficient and sustainable cities around the world,” he added.

IBI Group (IBG) is currently down 4.44 per cent and is trading at C$6.24 per share at 12:23pm EDT.

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