Ride Systems LLC and DoubleMap Inc. announced a merger of the two companies into Journey Holding Corp., now considered the largest intelligent transportation system provider in North America. Journey Holding Corp. provides a portfolio of technology services in over 700 locations and offers a large reach to public transit riders.
In the past 10 years, the public transportation industry has seen a shift in its passenger base to include a more tech-savvy, app-centric customer who seeks on-demand services at the push of a button. Customers have come to expect real-time GPS tracking as well as accurate arrival times, and as a result, more cities and transit operators are turning to computer aided dispatch systems like DoubleMap and Ride Systems to provide the crucial technology infrastructure needed to meet this demand.
Journey Holding Corp. has announced the following members to its executive team:
- Justin Rees (CEO of Ride Systems & Journey Holding Corp.).
- Aimee Ferrin (COO of Ride Systems & Journey Holding Corp.).
- Ilya Rekhter (CEO of DoubleMap & Co-President of Journey Holding Corp.).
- Peter SerVaas (President of DoubleMap & Co-President of Journey Holding Corp.).
- Megan Dixon (Chief of Staff for DoubleMap & Journey Holding Corp.).
- Eric Jiang (CTO of DoubleMap & Journey Holding Corp.).
Both Ride Systems and DoubleMap will continue operating semi-independently under the umbrella of the newly formed Journey Holding Corp. The new holding company will maintain operations out of the current headquarters for both Ride Systems and DoubleMap with newly appointed CEO Justin Rees, being based out of the Ride Systems headquarters in Salt Lake City.
This merger will result in the largest number of client locations offering real-time passenger information from one system. The combined entity expects total revenue for 2019 of up to $20 million and accelerated growth in the years to come.