History of FARA
FARA’s history dates back to 1983, when Nera Mobildata AS, a Norwegian supplier of ticketing systems for ferry companies, was awarded the first AFC (Automatic Fare Collection) contract in the county of Sør-Trøndelag, Norway. In 1999 Q-Free ASA, a developer and supplier of electronic toll collection systems merged with NERA Mobildata AS. To meet future demand, Q-Free initiated a new project to develop a next generation ticketing solution for Scandinavia.
In October 2005, as part of a corporate restructuring, Q-Free decided to demerge its Automatic Fare Collection (AFC) division. The AFC division became the core business of a new company called FARA.
FARA was formally established on 5 December 2005.
The first five year period, from 2006 to 2010, FARA focused on delivering secured contracts and organic growth, and making small acquisitions to widen the portfolio. As a result of this strategy FARA acquired two companies in March 2007, gaining market position as well as access to expertise across Denmark and Finland. In December 2008, a third acquisition ensured a foothold in the Swedish market.
The integration project in 2009 and 2010 secured FARA’s position as one of the leading suppliers of intelligent transport solutions for public transport in the Nordic countries.
Since then we have expanded our business, continuously pushing our products to the forefront of technology and continue to grow.