Quarterhill Inc. reports developments tied to intelligent transportation system solutions for public transportation agencies. Its updates commonly cover Weigh-in-Motion and Virtual Weigh-in-Motion deployments, traffic monitoring systems, commercial vehicle screening, automated enforcement, tolling technologies, AI-enabled sensing, and data platforms used for roadway safety, freight mobility, infrastructure protection, and transportation planning.
Quarterhill news also includes contract awards and agency partnerships across North America, including work supported by its International Road Dynamics subsidiary, as well as product demonstrations and financial results. Recurring disclosures emphasize software and recurring-revenue expansion, safety and enforcement activity, backlog and project execution, and the company’s positioning as a technology provider in the ITS market.
Wi-LAN, a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), announced a licensing agreement with Konica Minolta covering printer-related technologies. The details of the agreement, including the financial consideration, are confidential. Wi-LAN is recognized for its success in patent monetization across various sectors like automotive, medical, and wireless technologies. Quarterhill focuses on acquiring and growing technology-oriented companies, aiming for predictable revenues and profitable growth.
International Road Dynamics Inc. (IRD), a subsidiary of Quarterhill (TSX: QTRH; OTCQX: QTRHF), has secured a $2.0 million contract for providing maintenance services for five Weigh-In-Motion systems in New York State. This 5-year agreement supports the Commercial Vehicle Electronic Screening Program, enhancing vehicle pre-clearance and inspection processes. The contract marks a significant addition to IRD's service agreements, contributing to predictable revenue streams and strengthening its long-term relationship with the New York State Department of Transportation.
International Road Dynamics Inc. (IRD), a subsidiary of Quarterhill (TSX: QTRH) (OTCQX: QTRHF), has secured a contract to design and install two Weigh-in-Motion (WIM) systems in Paraguay. This initiative, part of a national truck compliance program, aims to enhance vehicle enforcement and support sustainable transportation. The systems will integrate vehicle dimensioning technologies to improve transport efficiency and protect highway infrastructure. CEO Rish Malhotra expressed commitment to expanding their operations in Paraguay, highlighting the importance of efficient commercial vehicle movement.
Quarterhill Inc. (QTRH/QTRHF) has appointed John Rim as Chief Financial Officer, effective October 1, 2020. Rim brings nearly 25 years of varied financial experience, previously serving as COO and CFO at Bitfarms Ltd. and VP at Kik Custom Products. He is expected to enhance Quarterhill's strategy focusing on organic and acquisitive growth in technology sectors. CEO Paul Hill emphasized Rim's expertise in technology, public markets, and M&A as pivotal for executing their growth plan. Quarterhill aims to leverage its strong balance sheet and clear strategy for advancement.