Cubic‘s will provide a contactless ticketing and fare collection system for London’s transportation network under a potential 10-year, $1 billion contract.
Under the so-called Electra contract, Cubic said Tuesday that it will start to implement the system in August 2015 as an extension of its ongoing partnership with Transport for London.
The technology is designed to integrate payment and information systems for the agency, Cubic says.
“We are delighted that our bid to continue our work in London has been successful,” said Roger Crow, Cubic Transportation Systems senior vice president and EMEA managing director.
Cubic, has supported the city’s ticketing and revenue management systems for more than 30 years.
The contract’s seven-year base period is worth $700 million and the deal also includes a three-year option.