A Brisbane-based software start-up using AI to improve road safety and traffic management has been acquired by Canadian company Transoft Solutions.
Advanced Mobility Analytics Group (AMAG) was formed by UQ's commercialisation arm UniQuest in 2020 to develop intellectual property from UQ, the University of British Columbia and Queensland University of Technology.
AMAG uses real-time data - interpreted by AI - to reduce road crashes and incidents, and to monitor infrastructure to improve road safety design.
UniQuest CEO Dr Dean Moss said AMAG's analytics platform prioritises solutions.
"This is great technology that makes a difference to people's lives," Dr Moss said.
"It's fantastic to see intellectual property spun-out of UQ and other universities gain traction on the global stage."
AMAG co-founder and CEO Dr Simon Washington said the acquisition was an exciting new chapter for both companies.
"AMAG is focused on delivering more efficient transport systems to communities around the world," Dr Washington said.
"The existing strengths of our people, products and services will be complemented by the capabilities of Transoft Solutions - a recognised and highly respected brand in the industry with more than 200 staff members in 13 locations across the globe, and a customer base of more than 50,000."
Transoft develops specialised software solutions for aviation, civil infrastructure, transportation and operational professionals.
CEO Daniel Shihundu said the acquisition of AMAG will enable Transoft to create a 'software ecosystem' where safety analytics contributes to infrastructure development and maintenance.
"We feel there is an excellent cultural fit, and combining our talented teams will accelerate research and development," Mr Shihundu said.
Dr Washington has been named Transoft's Vice President of Safety and Traffic Operations and will continue to work with his existing AMAG team.
Media contacts
UniQuest
Esther Haskell
+61 409 767 199
Brooke Baskin
+61 438 454 029
