Estonian Ridango acquires LIT Transit, Slovenian firm providing IT solutions for public transport
Ridango, a Tallinn-based company specializing in the development of systems for public transport ticketing as well as payments solutions, has acquired a 100% stake in Slovenian LIT Transit. The parties do not disclose the financial details of the deal. Now the new corporate group operates in more than 25 countries.
- Ridango company develops the systems for public transport ticketing with a focus on Automated Fare Collection (AFC) and Real-Time Passenger Information (RTPI) systems. It also pioneered contactless bank card payments in public transport.
- Since the company was founded in 2009, it has successfully accomplished numerous projects in Estonia, Sweden, Finland, Lithuania, Norway, Ukraine, and Greenland with public transport authorities and operators of various sizes.
- LIT Transit was founded in 2012 in Slovenia. It offers IT solutions for public transport, such as the Transit Management System and ETA (Estimated Time of Arrival) prediction engine.
- Following the acquisition of LIT Transit, the group now offers its ticketing, transit management, and payment solutions in 25 countries worldwide, including Singapore, India, Saudi Arabia, Australia, Qatar, New Zealand, Oman.
- The acquisition deal will enable Ridango and LIT Transit to bring their ticketing, transit management, and payment solutions globally.
“Our joint ambition is to become one of the leading providers of public transport mobility technology systems globally by 2026. The acquisition of LIT Transit is an important milestone, as they’re leading players in the public transport real-time industry,” the Chairman Of The Board at Ridango Group, Erki Lipre, comments the deal.