A European-based parking technology company announced this morning plans to acquire Atlanta-based ParkMobile.
ParkMobile, founded in 2008 and now deploying its technology in over 450 cities, had been part of PARK NOW, a joint venture between BMW Group and Daimler that brought together companies looking to address ride-sharing, charging, trip planning, and parking issues across the transportation and mobility space. The other PARK NOW Group companies, including RingGo, and Park-line, will also be part of the acquisition.
EasyPark currently operates in over 2,200 cities across 20 countries.
The financial terms of the acquisition were not disclosed.
Earlier this month also EasyPark acquired Switzerland-based e24.
Jeff Perkins told Hypepotamus that the acquisition will not change the Atlanta team. “The plan is to continue to grow our business in North America while exploring ways to share technology and collaborate with EasyPark Group on global opportunities,” Perkins added.
“We welcome Easy Park’s acquisition of our joint parking services business. This is a substantial step in the ongoing evolution of these digital services and will create a sustainable momentum to the benefit of customers and of further innovation,” said Rainer Feurer, Vice President of Corporate Investments at BMW Group, in a statement.
The acquisition news comes on the heels of a busy year for the parking technology company. In February, the team rolled out new integrations with Google Maps to streamline the process of finding and paying for parking.
The need for safe, contactless payment methods has only grown during the pandemic. “EasyPark Group is the parking technology leader in Europe. ParkMobile is the leader in North America. The combination creates a dominant global player in this rapidly growing space,” said Perkins.
“Over the past 12 years, ParkMobile has emerged as the technology leader in North America for contactless parking and mobility payments,” added Jon Ziglar, CEO of ParkMobile, in a statement. “Joining forces with EasyPark Group will enable us to continue this momentum into the future and opens up an array of new global growth opportunities.”