Miovision has acquired Traffop, a Phoenix, Arizona-based developer of software solutions to improve traffic flow and make roadways safer. No financial terms were disclosed. Kitchener, Ontario-based Miovision, a traffic management technology company, is backed by BDC Capital, HarbourVest Partners, McRock Capital, MKB, Renewal Funds, Telus Ventures and other investors.
KITCHENER, Ontario, July 13, 2021 (GLOBE NEWSWIRE) — Miovision, a Canadian company using computer vision, artificial intelligence and advanced analytics to help cities modernize their approach to traffic management, today announced it has made its first acquisition: Arizona-based Traffop. With this acquisition, Miovision now has a software-only solution for cities and towns that want to analyze traffic data from their intersections without the need to immediately install additional hardware.
Traffop is currently used at approximately 1400 intersections across the United States. It offers a cloud-based software solution to collect traffic data from existing signal infrastructure and provide useful insights, allowing traffic engineers to more effectively optimize traffic signal timing to reduce congestion and improve safety.
“Existing traffic signals can provide useful data, but it’s trapped at the intersection or locked in proprietary central management systems,” said Kurtis McBride, Miovision’s CEO and co-founder. “Many municipalities and public agencies are looking for a scalable software solution to turn data from those intersections into actionable insights. Traffop represents an industry-leading, cloud-based software solution for measuring signal performance – how well traffic is flowing through the intersection – one we think that traffic teams will be very excited about.”
“Our goal with Traffop was to build world-class traffic software and improve operations at as many intersections as possible,” said Sasa Mitrovic, Traffop co-founder. “Becoming part of Miovision will help us reach more potential customers and create greater impact with our technology. We share the same focus as Miovision – improving traffic – and are excited about our combined team’s ability to deliver industry-leading traffic products.”
As part of the acquisition, Traffop’s employees – Mitrovic and his co-founder Niko Carrizo along with a Serbia-based technical team – will join Miovision, working from their existing locations. Current Traffop customers will gain access to Miovision’s customer support team and Miovision will continue to develop Traffop’s software solution as part of Miovision’s cloud platform.
For customers, this acquisition adds a software-only solution to complement Miovision’s existing TrafficLink offering – an entire range of solutions needed for a traffic team to collect data, monitor, and understand their traffic signals. More choice means that more cities and towns can modernize their traffic signals and access the data and insights needed to reduce traffic congestion.
Miovision provides cities with modern tools to fix today’s traffic problems. We offer solutions that collect multimodal traffic data and uncover actionable insights, helping municipalities get more out of their road network. The result: streets capable of moving more people – safely and efficiently – whether they are in a car, on a bus, on a bike or e-scooter, or walking.