Subject: MERGERS AND ACQUISITIONS (M&A)
Modaxo Welcomes FARA
TORONTO, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Modaxo Inc. ("Modaxo"), a global technology organization focused on moving the world's people, today announced the recent acquisition of FARA AS ("FARA"), a leading provider of Ticketing and Real-time Information Solutions, from Ticketer Group.
FARA specializes in multi-modal Account-Based-Ticketing, Real Time Integration platforms and predictive fleet operations. The company's solutions simplify the use of public transport, improve operator performance and enable authorities to provide the best service possible.
Based in Trondheim, Norway, FARA has been a valued provider of software and technology solutions helping to move the Nordics and beyond for over 20 years. Some of FARA's customers include FRAM (Norway), Movia (Denmark), Helsinki Regional Transport Authority (Finland), Strætó (Iceland), and Transvia Go (Spain).
"Our brand FARA is an old Norse word for travel," said Josef Salpeter, CEO of FARA. "Our mission in FARA is to Make Travel Easy with public transport, whether you are a passenger, an operator, or a public transport authority. So it is an exciting time to be with Modaxo -- a global organization of many companies that are also aligned on moving the world's people in the best way possible."
"I am thrilled to welcome FARA, its employees, and customers to Modaxo," said Laurent Eskenazi, Head of UK/Europe for Modaxo. "The company's strong, long-term customer relationships and focus on delivering ticketing and real-time information solutions that really make a difference in making travel easy for all, is a great complement to our existing global portfolio of companies and solutions."
FARA maintains its brand and autonomy while benefiting from investment, support, coaching, best practices, and peer learning made available by Modaxo. Josef Salpeter continues to lead the business along with the management team. FARA represents the 24th brand in the Modaxo portfolio of companies working to deliver the technology and solutions that move the world's people.
About Modaxo
Modaxo is a global technology organization passionate about moving the world's people. Working both together and independently, our collective of businesses are committed to delivering software and technology solutions that help connect people with the places they need to go for work, family, and everyday life. Learn more at Modaxo.com.
Contact Information:
Kim Emmerson, CMO
Modaxo
Tel: +1 416 473 6302
[email protected]
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