Quarterhill's (QTRH +1%) subsidiary (International Road Dynamics Inc.) has been awarded a contract valued at $5.0M with the California Department of Transportation to provide equipment and software maintenance and on-call service for their statewide network of Weigh-in-Motion systems.
The new service agreement is effective Apr. 16, 2018 upto Dec. 31, 2020.
Mr. Terry Bergan, IRD's President and CEO commented, "IRD has been a long term systems and service supplier to Caltrans, and this new contract underlines our ongoing commitment and positive relationship with the State. IRD continues to renew our key multi-year contracts and sign significant new agreements within our service and maintenance markets around the world, increasing the recurring revenue aspects of our business."
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