Align Capital Partners (ACP) has acquired Electronic Transaction Consultants Corporation (ETC), a software and services provider of electronic tolling technology and smart mobility solutions.
ETC serves electronic tolling agencies by providing back office and roadside services through its modular software platform. The company's proprietary software utilises artificial intelligence and big data to help meet the needs of tolling and transportation customers.
Additionally, ETC's personnel provide onsite and remote maintenance and field operations. It offers roadside solutions aimed at tolling facility support, lane equipment control and managing money.
ACP, a private equity firm, says ETC will enter new markets through its range of RiteSuite mobility products.
ETC's upgraded RiteSuite systems went live at the State Road and Tollway Authority in Georgia in May.
RiteSuite includes the RiteView advanced big data reporting and dashboarding system, the RiteVision vehicle and number plate recognition system and a multimodal event processor called RiteJetStream.
ETC’s CEO Brett Kidd says the partners will work together to “create a more robust Mobility as a Service platform”.
Kidd predicts as toll road miles are expected to grow significantly in the US over the next five years, ETC’s data capture and transaction processing technology will “help state and local governments implement more efficient collection capabilities”.
As part of the agreement, ETC will formally change its corporate name to Electronic Transactions Consultants.