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TranSys, which runs London’s Oyster card system is to have its contract terminated five years early it has been revealed.
The Contract which is worth £100m a year was due to run until 2015 but TfL has decided to exercise a clause in the contract to cancel it five years early in 2010.
A TfL spokesman said “the move is not related to two recent system failures that forced staff to open Tube barriers for several hours.”
He continued and said “there is no financial penalty associated with TfL’s decision to cut short the contract.”
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