January 10 (SeeNews) - Croatian ICT solutions provider Ericsson Nikola Tesla [ZSE:ERNT] said on Tuesday it has signed a 1.8 million euro ($1.9 million) deal with the city of Split for a software solution for traffic management.
As part of the contract, Ericsson Nikola Tesla will establish and maintain a software solution for the centre for traffic control and surveillance, including the creation of an information backbone for the traffic light system and adaptive traffic management, and will develop and implement a mobile app for informing passengers, the company said in a filing to the Zagreb bourse.
The deal is part of a project for intelligent transport system, which will be carried out in partnership by local company King ICT and is estimated at more than 9.5 million euro. It is co-financed through the European Union's operational programme Competitiveness and Cohesion 2014-2020. The system and equipment included in this project will have to be integrated and implemented within 32 months.
Ericsson Nikola Tesla's shares traded 2.17% lower at 225 euro intraday on Tuesday on the Zagreb bourse.
($ = 0.931 euro)