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Parsons Corp (NYSE: PSN) was selected by the Niagara International Transportation Technology Coalition (NITTEC) to provide artificial intelligence (AI) based regional border transportation management system. Financial terms were not disclosed.
The system will help expedite the movement of goods and people around the Buffalo-Niagara bi-national region in Western New York State and Southern Ontario.
The contract includes the design, development, implementation, and maintenance of a multi-agency, technology-enabled, integrated, advanced transportation management system (ATMS).
"Optimized multi-agency information sharing and collaboration through advanced transportation management technology is essential to improving safety and increasing mobility around and between communities," states Peter Torrellas, president of connected communities for Parsons.
Price Action: PSN shares are trading higher by 2.50% at $38.07 on the last check Thursday.
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