PE-backed EasyPark to buy parking app ParkMobile

EasyPark Group is planning to acquire ParkMobile, a parking app.

EasyPark Group is planning to acquire ParkMobile, a parking app. No financial terms were disclosed. EasyPark Group is backed by private equity firms Verdane Capital and Vitruvian Partners.

PRESS RELEASE

ATLANTA, March 9, 2021 /PRNewswire/ — EasyPark Group, the European leader in parking and mobility technology, announced today the intent to acquire North American-based ParkMobile. This pending acquisition would immediately expand EasyPark Group’s global footprint into the North American market, where ParkMobile is the #1 parking app with over 22 million users and a presence in 450 cities, including eight of the top ten.
The pending acquisition between ParkMobile and EasyPark Group would immediately expand EasyPark Group’s global footprint into the North American market, where ParkMobile is the #1 parking app with over 22 million users and a presence in 450 cities, including eight of the top ten.

EasyPark Group is backed by private equity firms Verdane Capital and Vitruvian Partners and currently operates in 2,200 cities across 20 countries throughout Europe and Australia. This acquisition brings together the leaders in Europe and North America to share technology and accelerate global expansion.

“Over the past 12 years, ParkMobile has emerged as the technology leader in North America for contactless parking and mobility payments,” says Jon Ziglar, CEO of ParkMobile. “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.”

“We are pleased to welcome the ParkMobile team to EasyPark Group,” says Johan Birgersson, CEO of EasyPark Group. “This acquisition is strategically important to accelerate our long-term growth and innovation capabilities across the globe.”

ParkMobile has been part of BMW and Daimler’s mobility joint venture PARK NOW Group since March 2019. The PARK NOW Group European brands are also part of this acquisition. That includes PARK NOW, RingGo, Parkmobile Europe, and Park-line. The intended acquisition of PARK NOW Group from the shareholders of BMW Group and Daimler Mobility is subject to prior approval by relevant authorities. The parties have agreed not to disclose the terms of the transaction.

About ParkMobile
ParkMobile, LLC provides smart parking and mobility solutions in North America, using a contactless approach to help millions of people easily find, reserve, and pay for parking on their mobile devices. The company’s technology is used in thousands of locations across the country, including 8 of the top 10 cities as well as college campuses, airports, and stadiums. People can use ParkMobile solutions to quickly pay for on-street and off-street parking without having to use a meter or kiosk. Additionally, ParkMobile offers parking reservations at stadium venues for concerts and sporting events. Reservations are also available in metro area garages, allowing people to drive into the city without having to worry about finding parking. ParkMobile has been named to the Inc. 5000, Deloitte Fast 500, the Atlanta Journal Constitution’s Top Workplaces, and the Technology Association of Georgia’s Most Innovative Companies. For more information, visit ParkMobile.io or @ParkMobile on Twitter.

About Easypark Group
EasyPark is a leading, fast-growing parking tech company that helps drivers find and manage parking and charge their electrical vehicle. Our unique and cutting-edge technology also helps businesses, cities, parking operators and property owners with administration, planning, and data driven management in over 2,200 cities across 20 countries. We make urban life easier, one parking spot at a time. Visit https://www.easyparkgroup.com/ to find out more. EasyPark Group is owned by Verdane Capital and Vitruvian Partners.