Spanish technology firm Indra has secured a major long-term contract with Transport for London (TfL) to operate and maintain the capital’s ticketing and control systems, in a deal valued at up

to €975 million ($1.1 billion).

Under the agreement, which runs until 2034 with options to extend to 2039, Indra will be responsible for the systems that underpin travel across London’s vast public transport network. The contract covers the Underground, buses, trams and river ferries throughout the city and its surrounding metropolitan area.

Indra said the work will include maintaining and operating thousands of ticket gates, validators and vending machines, as well as retail sales terminals and portable inspection devices used by transport staff. The company will also manage TfL’s central back-office and payment platforms, including cybersecurity services.

London’s transport system is one of the busiest in the world, recording more than 8.6 million passenger journeys each day — or around 3.6 billion trips annually — according to Indra.

The transition to the new contract will take nearly two years. Once completed, Indra will become the sole provider of TfL’s ticketing system.

Looking ahead, the company said it plans to work closely with TfL on future upgrades, including a shift towards account-based ticketing for the Oyster Card. Oyster, first introduced in 2003, remains a cornerstone of London’s fare system and is expected to evolve further as digital and contactless travel options expand.

The deal strengthens Indra’s position in large-scale urban mobility projects and underscores TfL’s focus on modernising the technology behind one of the world’s most complex transport networks. Photo by tompagenet (Tom Page), Wikimedia commons.