Quarterhill Acquires Sensor Line GmbH

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[{"type":"text","content":"\n \n \n \n Quarterhill Acquires Sensor Line GmbH\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Sensor Line to be integrated into Quarterhill's wholly-owned subsidiary, International Road Dynamics (\"IRD\")\n \n \n \n \n Acquisition expands IRD's geographic footprint and customer base, broadens its sensor product suite and marks its entry into the rail vertical\n \n \n \n \n Acquisition price of €3.8 million (approximately\n \n $6.0 million\n \n )\n \n \n \n \n \n \n \n TORONTO\n \n ,\n \n Jan. 5, 2021\n \n /CNW/ - Quarterhill Inc. (\"Quarterhill\") (TSX: QTRH) (OTCQX: QTRHF), announces that it has completed the acquisition of all the issued and outstanding shares of Sensor Line GmbH (\"Sensor Line\"), a German-based Intelligent Transportation Systems (\"ITS\") provider of highly regarded fiber optic traffic sensors for road and rail markets, for cash consideration of €3.8 million (approximately\n \n $6.0 million\n \n ). Sensor Line will be integrated into Quarterhill's wholly-owned subsidiary, International Road Dynamics (\"IRD\"). All dollar amounts are in Canadian dollars unless otherwise stated.\n \n \n Sensor Line is a pioneer in the field of fiber optic sensors for road and rail traffic applications. The company's products are recognized globally as leaders in generating traffic monitoring data used to enhance safety, improve mobility, enable enforcement and reduce the environmental impact within transportation networks. Since its inception in 1996, Sensor Line has installed more than 50,000 systems in 50 countries worldwide.\n \n \n \"This acquisition broadens our product suite and expands our geographic footprint further into the European market,\" said Rish Malhotra, CEO of IRD. \"Sensor Line's in-road sensors will further strengthen our enforcement and tolling solutions and IRD's distribution capabilities will open-up new opportunities to grow the Sensor Line business while serving its long-standing loyal customer base. We are very pleased to welcome the Sensor Line team to IRD and will mainta...

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