Management of the capital’s Oyster card system is to pass to a new contractor with Transport for London taking ownership of the Oyster brand in a deal which TfL says will deliver “significant” savings for London.
In August Mayor Boris Johnson announced he would terminate TfL’s contract with TranSys, a consortium owned by EDS International Ltd, Fujitsu Services Ltd. and WS Atkins Consultants Ltd, in an effort to deliver better value for money.
After the Mayor’s announcement it emerged that the rights to the Oyster brand rested with TranSys, raising the prospect of TfL having to embark on an expensive rebranding exercise.
Under the agreement announced today the brand will be transferred to Transport for London ensuring the capital’s transport authority is more easily able to change contractors in the future.
The new three year contract has been awarded to existing TranSys shareholder Cubic Transportation Systems Limited with some services provided by EDS.
Although TfL aren’t releasing specific figures for commercial reasons, Shashi Verma, TfL’s Director of Fares and Ticketing, says the new deal will “save significant money that TfL will invest in improving transport in the capital.
Caroline Pidgeon, Liberal Democrat transport spokesman on the London Assembly, called on Mayor Johnson to “immediately publish the details of the agreement that has been reached – including how much the purchase of the Oyster trademarked name has cost.”