Ituran Location & Control secured a multi-year traffic-monitoring contract valued at over NIS 21 million, including NIS 5 million guaranteed in the first year. The agreement creates a Recurring Revenue stream from Ituran’s existing data Assets while supporting Israeli transport policy and future road investment.

Key Highlights

  • The contract guarantees NIS 5 million in first-year revenue.
  • Israeli Ministry of Transport entities will use the platform’s insights to guide policy and future road investment.
  • Ituran said the agreement creates recurring revenue from data assets it already owns.

Ituran Location & Control Ltd. (NASDAQ: ITRN) secured a multi-year Software-as-a-Service contract valued at over NIS 21 million for traffic monitoring across Israel. Entities under the Israeli Ministry of Transport will use the service to monitor live traffic behavior on the country’s main roads.

NIS 21 Million Contract Covers Traffic SaaS

The agreement provides the ministry’s entities with access to Ituran’s proprietary Big Data platform. The first year is guaranteed at NIS 5 million. Ituran described the award as its first multi-year commercial contract for the platform.

Data Platform Adds Recurring Revenue Stream

The ministry entities will use the platform’s insights to support transport policy and future road investment. Ituran said the project launches a recurring revenue stream based on data assets it already owns. Co-Chief Executive Officer Eyal Sheratzky said the contract demonstrates the value of the platform beyond the company’s core telematics and stolen-vehicle-recovery services.