On Track Innovations (NASDAQ:OTIV) announced a new long-term service contract with the Mazowieckie Railways Company worth $155K.
OTI Europa will provide and maintain Mazowieckie Railways' Masovian Smart Cart IT system in support of electronic ticket sales.
"We are pleased that Mazowieckie Railways chose OTI as their partner for ongoing IT support," said Shlomi Cohen, CEO of On Track Innovations (OTIV). "Our significant experience within the European mass transit market positions us favorably for future contract wins in this segment. This multi-year service contract stands as a testament to our continued efforts to build a steady base of long-term recurring revenues, which we believe will be a notable long-term value driver for our shareholders. We look forward to continued execution on this front."
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