Vontier divests Global Traffic Technologies for $107M

Vontier announced the sale of its Global Traffic Technologies business to Miovision for $107M, representing a transaction value of approximately 10X 2022 EBITDA. GTT reported 2022 revenue of approximately $40M. Financial results for the GTT business will be included in Vontier’s financials for Q1 and will be excluded from continuing operations as of the completion date. The transaction closed on April 14. Global Traffic Technologies is a provider of intelligent traffic management systems and solutions, including the Opticom priority control system and Canoga traffic sensing systems, managing over 90,000 intersections and over 90,000 vehicles worldwide. GTT is headquartered in St. Paul, MN. Miovision, headquartered in Kitchener, Ontario, is a global provider of scalable, intelligent transportation solutions enabling cities to reduce traffic congestion and vehicle emissions while improving public safety.