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Journeo PLC shares jumped on Friday after it signed a new framework agreement with First Bus UK based upon its cloud-based video management solution.
This agreement is the company's largest one to date.
Shares were trading 35% higher at 143.14 pence each on Friday morning in London.
First Bus UK is part of Aberdeen-based transport company FirstGroup PLC. It is the second-largest regional bus operator in the UK with a fleet of 5,000 buses.
The Leicestershire, England-based transport system services provider said that the agreement will initially run for three years until March 2025.
It is expected to generate revenue of £9 million and includes an option to extend the term by a further two years to March 2027.
Journeo will supply its cloud software as a service portal for the tracking, video management and remote condition monitoring of on-vehicle systems to the bus operator. It will be used for First Bus's entire UK bus fleet.
Journeo has been working with First Bus since 2010 and will also continue to provide CCTV and safety-critical digital wing mirror systems, along with technical design, new technology evaluation and project management services backed up by nationwide engineering support, under the agreement.
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