Via Transportation Buys Downtowner For Undisclosed Sum

(RTTNews) - Via Transportation, Inc. (VIA), a digital public transportation system platform provider, Monday announced that it is acquiring Downtowner, a transportation technology company specializing in innovative and efficient public transit solutions for Destination Cities.

The financial details of the transaction have not been divulged.

With the addition of Downtowner, Via will broaden its platform with a product and proprietary data for efficiently managing seasonal demand, supporting critical local commuting needs, and operating in complex topographical environments subject to significant weather impact. Downtowner's extensive experience and data from years of partnering with Destination Cities will directly contribute to Via's proprietary transit data sets, accelerating development of Via's AI solutions, including its flagship AI for Cities product, the company said in a statement.

In pre-market activity, VIA shares were trading at $30.01, up 0.70% on the New York Stock Exchange.