December 27, 2021
Estonian technology company Ridango has acquired a 100% stake in LIT transit, a Slovenia-based firm providing solutions for public transit; together, the companies now operate systems in over 25 countries.
Ridango is an Estonian company specialising in the development of systems for public transport ticketing as well as payments and real-time passenger information solutions.
“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 the leading players in the public transport real-time industry,” Erki Lipre, the chairman of the management board of Ridango, said in a statement.
“Ridango’s main focus has been account-based ticketing and payments in Baltic and Nordic markets. /—/ The transaction will significantly increase our global reach and the number of markets we operate, as well as provide very strong expertise in real-time and ticketing solutions,” he added.
Extending its reach to Asia and Oceania
Ridango is operating in Estonia, Sweden, Finland, Lithuania, Norway, Ukraine and Greenland.
Following the acquisition of LIT Transit, the group now offers its ticketing, transit management and payment solutions in countries and cities like Singapore, Hong Kong, India, Saudi Arabia, Australia, Qatar, New Zealand, Oman and others.
Ridango is headquartered in Tallinn, Estonia, and is a transportation solutions provider founded in 2009.
LIT Transit was founded in 2012 in Slovenia and has customers in Hong Kong, Singapore, India, Middle East, Mexico etc. Among other solutions, LIT has a leading transit management system and an estimated time of arrival prediction engine.
Resource: estonianworld
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