Transol unit wins contract extension

Contract has been renewed for about five years, providing online driver education web services

Transol (ASX:TNC) subsidiary CLTNet NZ has won an extension on its software and services deal with the New Zealand Transport Agency.

The contract to provide online driver education web services to the agency has been renewed for at least five years, with an option to extend that to seven.

The agreement also covers licensing for CLTNet's computerised Driver License Theory Testing system, and provision for the supply of additional testing services for the transport industry.

In return, CLTNet NZ will receive annual license and consulting fees, as well as income from the sale of practice tests to New Zealand learner drivers.

CLTNet NZ and the Transport Authority have been collaborating for 18 months on a national driver testing and education for New Zealand.

This co-operation has brought the system to a network of around 100 license testing centres, as well as online.

Through these facilities, the NZTA expects to conduct up to 150,000 learner driver tests per year, as well as 200,000 practice tests.

Transol has meanwhile revealed it has been given permission to extend the date of its AGM, and will now hold it in Melbourne on 10 December.

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Tags businessTransolNew Zealand Transport AgencyCLTNet NZ

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