FARA ASA, the leading supplier of IT solutions to the public transport sector in the Nordic countries, is pleased to announce yet another contract with an existing customer. Kolumbus, which operates in the county of Rogaland in Norway, has entered into an agreement for delivery of FARA smart card validators and corresponding software applications. The contract is valued at approx NOK 1.4 million.

"We are pleased to develop our existing customer relationships by introducing new hardware and software solutions to the benefit of both the public transport operator and its passengers. FARA smart card validators make the journey smoother as passenger boarding is made more efficient. Even though this specific contract has a limited value, this kind of contract supports FARA's increasing base of recurring revenues going forward. In this perspective, we welcome add-on
sales of this kind as it develops FARA's position within the existing customer base." says Ørjan Kirkefjord, CFO of FARA ASA.

For more information, please contact:
Ørjan Kirkefjord, CFO of FARA, mobile +47 95 08 47 30
Øivind Kirksæter, CEO of FARA, mobile +47 97 70 79 90