International Road Dynamics, a wholly owned subsidiary of Ottawa-based Quarterhill, will provide full-service traffic monitoring services to the state of Oklahoma over the course of a five-year, multimillion-dollar contract.
IRD operates in the so-called industrial internet of things, providing data and analytics for connected technologies in areas such as transportation.
The $4.23-million deal with the Oklahoma Department of Transport is an extension of the firm’s more than 25-year relationship with the state. It will see IRD provide equipment, services and maintenance for Oklahoma’s 95 traffic monitoring systems across the state.
(Sponsored)
Family-owned Coke Canada Bottling investing to grow in Ottawa-Gatineau
Have you ever wondered where your favourite Coca-Cola products come from? Few people in know that over 300 popular beverages products, like Coca-Cola, Coke Zero, Fuze, Fanta, Monster Energy, A&W
Invest with confidence: Hydro Ottawa funds technical studies for business retrofits
For Ottawa businesses, the opportunity to improve building performance has never been greater. Energy retrofits can cut emissions, strengthen operations, extend the life of assets, reduce operating costs, and position
These systems include weigh-in-motion capabilities that measure trucks’ cargo loads as they drive, as well as infrared sensors that can classify vehicle makes and sizes as they pass through. IRD collects data such as vehicle volume, speed and time of travel and provides post-collection reports, which is meant to save time and resources on manual inspections.
Quarterhill’s interim CEO Shaun McEwan told OBJ in April that value like this is what makes the IIoT industry worth trillions of dollars.
This latest deal is similar in scope and value to IRD’s recent contracts with British Columbia and Saskatchewan.
Quarterhill’s (TSX:QTRH) stock hit its 52-week peak at $2.91 in April, shortly after the firm announced its pivot into the IIoT sector, but has dropped in value in recent months. Shares of the firm were trading at $1.67 by midday, a slight increase over the day before.
