SMT Software has purchased the shares of Traffic Info – a company that received a PLN 800,000 subsidy from PARP (Polish Agency for Enterprise Development).

SMT Software, who had it’s debut on NewConnect stock market on April 21st, has became a 100% shareholder of Traffic Info by concluding a sale contract with its former shareholders on May 5th. SMT Software has already owned 50% of Traffic Info shares before the purchase.

Traffic Info Sp. z o. o. is a company that gathers, from many different sources, information concerning places where traffic congestion occurs or information about any other on-road difficulties in Poland in order to deliver the acquired data to the drivers. The company signed an agreement with Polish Agency for Enterprise Development on May 5th. Owing to this agreement, Traffic Info is due to receive a PLN 804,300.00 subsidy to execute a project called „Internet and mobile platform for information about traffic congestion and on-road difficulties – TrafficInfo”.
The TrafficInfo service is targeted towards individual Internet and mobile phone users. It provides users with real-time data concerning traffic congestion and other on-road situations that may influence the traffic. A mobile version of this application will also be available. It will show the current situation in the user’s proximity and warn him/her of any traffic difficulties that occur in the monitored area. With information provided by TrafficInfo in real-time, drivers will be able to avoid obstacles such as traffic jams or construction works. Total cost of execution of this project was assessed at PLN 977,920.00. The said grant has been awarded as a part of Innovative Economy Operational Program, Activity 8.1: Supporting business in the electronic economy segment.
„We see a strong synergic potential between the activity of Traffic Info and development of the SATIS brand – a system for localization and GPS monitoring offered by SMT Software, available since the beginning of 2010.” – said Szymon Pura, member of the Management Board in both companies.
SMT Software purchased 10 shares of the face value of PLN 250.00 each, amounting to the total cost of PLN 110,000.00. Simultaneously, Tomasz Frątczak, who is a member of the Board at SMT Software, has been appointed as Traffic Info’s new President of the Management Board.