America News: Telvent to acquire Caseta Technologies

America News:  Telvent to acquire Caseta Technologies

Global real-time IT company, Telvent, and its subsidiary Telvent Traffic North America, have signed a stock purchase agreement with Caseta Technologies to acquire 100% of Caseta for an undisclosed purchase price.

The acquisition of Austin, Texas-based Caseta, combined with the acquisition of Farradyne in July 2006, further strengthens Telvent's position in the ECT and ITS industries, both in the US and globally.

Caseta develops, supplies, integrates and maintains electronic toll collection systems from the traffic lane to the back-office. Its electronic toll technology processes more than 170 million toll transactions a year.

The number of toll roads in the US is expected to increase significantly over the next several years, with new toll collection facilities using electronic free flow systems.

The Caseta acquisition will enable Telvent to offer a more complete ETC solution.

The transaction is expected to close this month, and Caseta will become a wholly-owned subsidiary of Telvent Traffic North America.

Caseta’s senior executive team will remain in their current positions.

Leave a comment

Your email address will not be published. Required fields are marked *