European parking technology company EasyPark Group plans to acquire Atlanta-based payment facilitator ParkMobile, the two companies announced Tuesday.
According to the announcement, ParkMobile leads the mobile parking app market in North America with more than 22 million users across 450 cities. Stockholm-based EasyPark Group operates in 2,200 cities across 20 countries. This acquisition marks the company’s entrance into the North American market.
ParkMobile is currently owned by a joint venture between BMW and Daimler called PARK NOW Group. PARK NOW also includes European brands PARK NOW, RingGo, Parkmobile Europe and Park-line, which will also be part of the acquisition.
“Over the past 12 years, ParkMobile has emerged as the technology leader in North America for contactless parking and mobility payments,” said 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,” said Johan Birgersson, CEO of EasyPark Group.
“This acquisition is strategically important to accelerate our long-term growth and innovation capabilities across the globe.”
Terms of the acquisition were not disclosed.