As it looks to expand its reach into the growing “Industrial Internet of Things” market, Ottawa-based Quarterhill (TSX:QTRH) (NASDAQ:QTRH) says it’s been awarded a multimillion-dollar contract to help manage trucks travelling in British Columbia.
The deal is worth up to $5 million.
Quarterhill, which was known as WiLAN until earlier this year, will provide ongoing maintenance and technical support for five years for the province’s Weigh2GoBC program.
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It’s a network of weigh-in-motion and automatic vehicle identification technologies that are designed to improve the efficiency of commercial vehicle traffic.
Once a transponder-equipped vehicle has been initially checked at a Weigh2GoBC station, it can be cleared to bypass all subsequent inspection stations for up to 24 hours.
Quarterhill subsidiary International Road Dynamics previously provided the hardware, software, integration and maintenance for all 11 Weigh2GoBC sites.
“This contract adds to our recurring revenues and supports our corporate strategy of growth in our maintenance and service business,” said IRD president and CEO Terry Bergen in a statement.
Quarterhill acquired IRD for $63.5 million in April as part of its move beyond its traditional patent licensing business.
The company’s share price was up 1.1 per cent to $1.81 in late afternoon trading Tuesday on the Toronto Stock Exchange.
