Vaisala acquires road weather company in the US
Lehtikuva / Kimmo Mäntylä A proper weather service is needed at least in Finland during wintertime. Kimmo Mäntylä's photo from Helsinki yesterday.Vaisala grows its presence in the global road weather and information technology business through an acquisition of Quixote Transportation Technologies, Inc. (QTT), a U.S. based company with 22.6 million USD net sales in 2009 and nearly 100 employees. QTT is a subsidiary of Quixote Corporation (Nasdaq: QUIX). The value of the deal is 20 million USD.
QTT complements Vaisala's Roads segment offering and application knowledge, enabling the delivery of more complete solutions and customer service. QTT's offering of road and runway weather information, highway advisory radio, and traffic monitoring systems will strengthen Vaisala's position in the Roads markets.
- The acquisition creates an excellent foundation for future growth in Vaisala's Roads business. It will specifically open new opportunities for us in the Intelligent Transportation Management business, says Antero Järvinen, head of Vaisala's Roads segment.
Vaisala is a global leader in environmental and industrial measurement. Vaisala provides a comprehensive range of observation and measurement products and services for meteorology, weather critical operations and controlled environments. Headquartered in Finland, Vaisala employs over 1300 professionals worldwide and is listed on the Nordic Stock Exchange, Helsinki.
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