The European leader in parking and mobility technology, EasyPark Group, announced just last month (March 2021) that it would be acquiring North American-based ParkMobile. Considering ParkMobile boasts 22 million users in 450 cities, this move is strategic for EasyPark Group.
Essentially, this acquisition will accelerate the global expansion of EasyPark Group’s digital footprint in the North American market. The ultimate goal is for next-gen digital parking and mobility solutions – like on- and off-street contactless parking payments, parking availability, Electric Vehicle charging and in-car integrations – to take off.
According to a ParkMobile spokesperson, “ParkMobile has very strong brand awareness in North America and there is no current plan to rebrand.”
Likewise, EasyPark Group already has a strong presence itself. It is not only backed by private equity firms Verdane Capital and Vitruvian Partners, but also operates in 2,200 cities across 20 countries throughout Europe and Australia. This acquisition truly brings together two leaders in an effort 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, ParkMobile chief executive. “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.”
“This acquisition is strategically important to accelerate our long-term growth and innovation capabilities across the globe.”
Driving Force Behind Planned Acquisition
The coronavirus pandemic has dramatically changed the way consumers’ shop and how they choose to pay for purchases. As contactless payments have become the preferred option during the pandemic, the need for greater security has also increased. Fraudsters have not been idle as online transactions have increased over the past year.
Acquisitions like EasyPark Group and ParkMobile will likely continue to take place in the future as more and more companies push to offer the very best processing available.
“For years, we’ve offered mobile capabilities that replaced the need for a paper ticket,” Robert Chavez, Cincinnati-based Fast Park chief operating officer, said in a statement. “Our rollout of this new payment technology was the last step in providing our guests a truly contactless entry and exit experience.”
Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.