ETC has been a leading provider of tolling and mobility systems for more than 20 years to some of the largest tolling authorities in the U.S., including in Texas, California and Illinois. ETC’s flexible riteSuite™ software platform enables authorities to customize operations to their specific needs, with features that include All Electronic Tolling, dynamic pricing, agency interoperability, hosted mobility solutions and machine learning. The company’s platform processes more than two billion transactions annually representing more than US$3.0 billion in toll billings across more than 1,500 toll lanes in the U.S.
ETC’s strength in tolling and mobility systems is complementary to Quarterhill’s International Road Dynamics (“IRD”) business, which is a leader in Commercial Vehicle Operations and Enforcement technologies. This combination will give Quarterhill two Intelligent Transportation Systems (“ITS”) platforms at scale in two important ITS verticals that will enable new revenue synergy opportunities. Specifically, ETC’s back-office, reporting and inter-operability technology complements IRD’s widely deployed lane-embedded sensors and toll audit systems. In addition, IRD’s global footprint can pave the way for the two companies to pursue tolling solution opportunities worldwide.
“This is a transformational acquisition that will significantly diversify Quarterhill’s financial results, bring scale to our ITS business and expand our presence in the tolling market, where we see strong growth trends,” said Paul Hill, Quarterhill’s CEO. “Roads and bridges in the U.S. are in need of expansion and repair at a time when government authorities are under tight budget constraints. Tolling solutions like those offered by ETC are essential in helping to pay for and sustain these infrastructure investments. With the U.S. federal government recently completing an infrastructure bill that will provide billions in additional funds for road repair and development, we believe ETC is well-positioned to benefit from these industry tailwinds.”
