EYSA, which is backed by Portobello Capital, has acquired P3 Global Management, a global smart city developer. No financial terms were disclosed.
NEW YORK, July 20, 2017 /PRNewswire/ — P3 Global Management (P3GM – www.p3gm.com) a global smart city development company announced today that it has been acquired by EYSA a leader in smart mobility solutions, in an all cash-transaction.
P3GM focuses on bringing advanced bike-share systems to small and mid-sized cities through a unique approach that brings turn-key mobility infrastructure to cities at no cost to the taxpayer. Their first program Skybike, based in West Palm Beach, FL launched in June 2015 and comprises of 150 bikes across 14 stations, boasting over 13,000 registered users. This was quickly followed by the increasingly successful Hudson Bike Share program (Hoboken, NJ), whose 300 bikes supplement 29% of the Mile Square City’s population and achieved over 150,000 rides in its first year.
“We built P3GM with a clear vision to be a trusted long-term partner, guiding cities through their smart city transformation and unlocking social, environmental and economic (SEE) value. It’s great to share that vision with EYSA, and have the opportunity to join forces with their team,” said co-founder Sergio Fernandez de Cordova.
“We believe the opportunity in the smart city space is huge and it’s evolving fast. We are very proud to see our portfolio company acquired by EYSA, the alignment both companies in the USA will be key to scaling and providing better smart mobility solutions to the municipal marketplace,” said Matias de Tezanos, co-founder of P3GM and founder of PeopleFund the lead investor of P3GM.
“With the acquisition of P3GM, we now have a platform and a foothold in the American municipal market, thus giving us the opportunity to expand our footprint as well as grow the already successful bike share programs.” states Javier Delgado, CEO of EYSA. “We look forward to working with Carlos Pujol, CEO of P3GM and his talented team.”
Amongst the various international accomplishments EYSA is the curator of Madrid’s Emov electric car share service and regulated surface parking platform Elparking. EYSA has an aligned strategic vision to change the habits of people in cities through smart mobility solutions that improve the efficiency of municipalities, and reduce their environmental impact.
P3GM is a global smart city development company that provides a gateway for next-generation technology companies to implement their solutions in cooperation with cities. Through public-private partnerships, P3GM integrates best-in-class technologies and solutions across the mobility, energy, telecommunications, and out-of-home media industries. For more information visit: www.p3gm.com
EYSA are a Spanish company with international ambition and great experience delivering integrated mobility solutions for cities and citizens to improve their quality of life. EYSA act in accordance with our vision of what a 21st-century city should be, based on our deep knowledge and innovative approach and true to sustainability values. Rooted in technology and innovative management models, we help connect cities and citizens within the process of transforming Smart Cities. EYSA (www.eysaservicios.com) is backed by leading independent mid-market private equity managers Portobello Capital.
PeopleFund is a global pioneer in value added investments focused on technology, internet and media. PeopleFund is uniquely positioned to add significant value to companies by leveraging our in-house management and technology expertise. Our investment approach allows us to partner and invest in early stage, growth, private equity and public companies. By partnering with management and entrepreneurs, PeopleFund has generated industry-leading returns for our investors. For more information please visit: www.peoplefund.com