logo-loader
viewSenSen Networks Ltd

SenSen Networks lands multi-year contract with City of Gold Coast

The company provides video analytics and artificial intelligence data analytics software solutions to customers in the intelligent transportation systems and gaming sectors in Australia, Canada, Europe, Singapore, UAE and India.

SenSen's SenFORCE parking solution
SenFORCE parking enforcement is an alternative to parking inspectors on foot

SenSen Networks Ltd (ASX:SNS) has secured a deal to supply an automated parking enforcement solution to the City of Gold Coast, Queensland, in conjunction with its distribution partner Duncan Solutions.

The contract covers the city’s purchase of an initial two SenFORCE mobile parking enforcement units with upfront revenue for the systems, software and commissioning of the units to begin this month.

Under the three-year term of the contract, SenSen will also earn annual recurring revenues and fees for the software licence, maintenance and support services.

Shares increase 10%

Shares are up 10% to 11 cents.

Duncan Solutions is an Australian-owned company providing integrated parking solutions and the City of Gold Coast is a longstanding customer.

READ: SenSen Networks receives new order from Brisbane City Council

It is the latest in a string of Queensland-related government contracts SenSen has won, including a multi-year contract with the Brisbane City Council (BCC) to provide a range of solutions relating to suburban safety mobile technology.

The Gold Coast contract follows a proposal by the city's mayor Tom Tate to spend $544 million on specific traffic congestion management initiatives over the next four years  as part of a 2013-2031 transport strategy.

This strategy highlighted the need for a multi-pronged approach to meet the Gold Coast’s emerging transport challenges.

The City of Gold Coast parking inspectors will utilise senFORCE across the municipality to improve safety in school zones and to improve parking space availability and congestion.

 

The company received further new orders from BCC late last month to supply two additional fully automated parking enforcements units by June 30, 2019. 

READ: SenSen Networks wins contract with Cairns Regional Council

In April, SenSen also secured a three year deal to supply its fully automated parking enforcement solution to Cairns Regional Council.

During the March quarter, SenSen earned more than $588,000 in revenue and $602,000 in cash receipts with $3.18 million cash on hand at March 31.

Quick facts: SenSen Networks Ltd

Price: 0.1 AUD

ASX:SNS
Market: ASX
Market Cap: $42.17 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of SenSen Networks Ltd named herein, including the promotion by the Company of SenSen Networks Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

SenSen Networks aims to disrupt expensive approach to smart cities

SenSen Networks Ltd (ASX:SNS) chief executive officer Subhash Challa speaks to Proactive Investors abouts its new Gemineye product, which can slash the cost of smart cities by harnessing the power of smartphones.   While most smart city technology to date has required expensive...

on 30/4/19

2 min read