Helsinki, Finland –?? Vaisala grows its presence in the global road weather and information technology business through a strategic acquisition of Quixote Transportation Technologies, Inc. (QTT), a U.S. based company with 22.6 million USD net sales in 2009 and nearly 100 employees. QTT is a subsidiary of Quixote Corporation (Nasdaq: QUIX). The value of the deal is 20 million USD.
QTT complements Vaisala’s Roads segment offering and application knowledge, enabling the delivery of more complete solutions and customer service.
QTT’s offering of road and runway weather information, highway advisory radio, and traffic monitoring systems will significantly strengthen Vaisala’s position in the Roads markets.
“The acquisition creates an excellent foundation for future growth in Vaisala’s Roads business. We are very pleased to join forces with one of the most advanced companies in the world in this area. The acquisition will specifically open new opportunities for us in the Intelligent Transportation Management business,” says Antero J??rvinen, head of Vaisala’s Roads segment.
Vaisala is a global leader in environmental and industrial measurement. Building on more than 70 years of experience, Vaisala contributes to a better quality of life by providing a comprehensive range of innovative observation and measurement products and services for meteorology, weather critical operations and controlled environments. Headquartered in Finland, Vaisala employs over 1300 professionals worldwide and is listed on the Nordic Stock Exchange, Helsinki. www.vaisala.com
Quixote Corporation, (www.quixotecorp.com), through its wholly-owned subsidiary, Quixote Transportation Safety, Inc., is the world???s leading manufacturer of energy-absorbing highway crash cushions, truck-mounted attenuators, bridge anti-icing systems, flexible post delineators and other transportation safety products.
Antero J??rvinen, Segment Director, Roads
Tel. +1 303 402 4751
Helena Marjaranta, SVP, Communications
Tel. +358 40 581 9102
Theresa Mary Fischer, Communications Manager, North America
Tel. +1 520 806 7361
OMX Nordic Exchange Helsinki
The impact of weather in the US *)
* 1.5 million or 25% of the crashes are weather-related, occurring in adverse weather or slick pavements.
* 7,400 people are killed in these crashes and over 670,000 injured.
* Most crashes happen on wet pavement (75%) and during rainfall, but a significant number during snow or due to icy pavement.
* The damage cost due to the injuries, loss of life or property is about 42 billion USD annually.
* The total investment on road weather information systems research and development is appr. 15 million USD in the US.
* As a leading supplier of road weather measurement equipment, Vaisala is actively promoting the importance of road weather safety.
*) Source: eleven-year averages from 1995 to 2005 analyzed by Noblis, based on NHTSA data