Both Ride Systems and DoubleMap will continue operating semi-independently under the umbrella of the newly formed Journey Holding Corp.
Ride Systems/DoubleMap
2 min to read
Both Ride Systems and DoubleMap will continue operating semi-independently under the umbrella of the newly formed Journey Holding Corp.
Ride Systems/DoubleMap
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.
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.
A major goal of the pilot, which begins in April, is to test the speed, functionality, and durability of new handheld devices to scan Ventra and paper tickets.
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A phased approach to technology, in-house capabilities, and workforce investment is helping transportation leaders break the reactive cycle and build more resilient, revenue-focused operations.
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The pilot program showcases two companies’ technology at eight bus stops. The companies submitted their ideas through the Transit Tech Lab, which is backed by the Partnership Fund for New York City and provides an accelerated pathway for early to growth-stage companies to solve public transportation challenges for the largest transit agencies in North America.
