Transport for London has appointed French owned Keolis as the new operator of the Docklands Light Railway.
The firm will replace current franchisee Serco which has operated the service since 1997.
Keolis already runs a number of UK rail services through Govia which it co-owns with the Go-Ahead Group and which recently won a seven year franchise to operate Thameslink.
TfL says the new operator will be expected to deliver improvements to the service while meeting growing demand.
The £700m contract will start on December 7th and run until April 2021. TfL has an option to extend the deal for a further two years.
Mike Brown, TfL’s Managing Director of London Underground and Rail, said: “The DLR is a rail network that continues to support regeneration across a huge area of London and the economic growth of the city as a whole.
“The decision to appoint Keolis Amey Docklands was reached after a thorough and competitive procurement process, which will ensure the DLR continues to deliver an ever-improving high quality, value for money service for Londoners well into the future.”