Verra Mobility (VRRM), which provides smart mobility technology focusing on transportation safety systems, commercial fleet toll management, and automated roadside enforcement fell nearly 70% six months ago when news hit that Avis would be terminating their contract with them. Avis accounts for roughly 10% of Verra's revenue.
In late July, Verra and Avis announced they'd reached an agreement on a new contract. Both companies established a new 7-year framework agreement to keep Verra Mobility powering Avis's tolling program.
Source: https://ir.verramobility.com/news-releases/news-release-details/verra-mobility-reaches-framework-agreement-avis-budget-group
