Everyone at LOROL has worked tirelessly over the past five year to transform the railway and to deliver TfL's vision for the Overground.
Following a hugely successful Olympic and Paralympic Games for London Overground with sustained levels of train punctuality since then, TfL has taken up the option of extending its existing contract with LOROL.
Under the contract, LOROL will continue to be responsible for the operation of the London Overground train services, maintenance and operation of the stations which they manage and the maintenance of the Class 172 trains which run on the Gospel Oak to Barking line.
The extension will run from 8 November 2014 to 12 November 2016. The concession will be re-tendered in 2016.
TfL Chief Operating Officer for Rail, Howard Smith, said: 'We are pleased to continue our successful relationship with LOROL.
'The Overground has gone from strength to strength since the start of the Concession and demonstrates what TfL can achieve, in partnership, when given responsibility for rail services in London.'
Managing Director of LOROL Peter Austin, said: 'I am delighted that we have reached agreement with Transport for London for a two year extension to our contract.
'Everyone at LOROL has worked tirelessly over the past five year to transform the railway and to deliver TfL's vision for the Overground.
'The two year extension is recognition of those efforts and LOROL's excellent operational delivery. We look forward to another successful four years.'