Teleste buys the German iqu Systems GmbH, strengthens its offering of passenger information solutions for the public transport industry.
Teleste, a Turku, Finland-based company providing broadband video and data communication networks and services, announced it has acquired iqu Systems GmbH, the German company specialised in intelligent passenger information systems and software.
Through the acquisition, Teleste will complement its offering of passenger information solutions for public transport, one of the company’s key focus areas. A major aim of the transaction is to strengthen Teleste’s capabilities as a provider of modular solutions that meet public transport operators’ demands for smooth and reliable delivery of passenger information.
Teleste, led by CEO Jukka Rinnevaara, provides a solutions portfolio of television and broadband home services, as well as products and solutions for secure safety in public places and guide your use of public transport. In 2016, Teleste’s net sales reached EUR 260 million and the company employed over 1500 people. Teleste is listed on Nasdaq Helsinki.
Teleste’s current offering for the segment will be complemented by iqu System’s business, which consists of software solutions, displays and related services. The company also holds a firm position in the German public transport market, which will enable Teleste to increase its market reach and presence in the area.