MISSISSAUGA, ONTARIO--(Marketwired - April 28, 2014) - Trapeze Group ("Trapeze") today announced that it has entered into an asset purchase agreement to acquire Fare Logistics of Victoria, British Columbia, Canada. The potential acquisition represents Trapeze's continued investment in fare collection solutions to the passenger transportation industry.
"Fare Logistics and Trapeze have been partners on projects over the years and share mutual customers," said John Hines, President of Trapeze Group in North America. "Pending the successful closing of the acquisition, we look forward to incorporating Fare Logistics' strengths and capabilities into the greater Trapeze offering."
Fare Logistics is a solution provider to the transit industry with a focus on all aspects of fare acceptance including ridership/boarding, embedded devices, cash processing, media technologies, analysis & reporting and system management. Fare Logistics started operations in the late 1980's with development of a proprietary card payment system for use in multiple applications.
"We are excited at the prospect of growing our business as part of Trapeze, stated Vanessa Rodenburgh, President at Fare Logistics. "We recognize that Fare Collection is evolving so partnering with Trapeze in their offering of a total and fully integrated enterprise solution makes ultimate sense for our customers, our employees and the market."
About Trapeze Group
Trapeze delivers solutions that consider the full 360 degrees of passenger transport. Whether addressing the needs of a single department, an entire organization, or the community, Trapeze provides some of the most advanced software, intelligent transportation systems and mobile technologies in the industry. Hundreds of government and commercial organizations across North America, Europe and Asia Pacific have turned to Trapeze to realize efficiencies, enhance the quality and scope of their services, and safely transport more people with less cost. Please visit www.trapezegroup.com.