EasyPark Group, the European fast-growing mobility company, announced the completed acquisition of PARK NOW Group, including North American-based ParkMobile. The closing of this transaction immediately expands EasyPark Group’s global footprint into the North American market, where ParkMobile is the #1 parking app with 25 million users and a presence in over 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 two successful companies and enables the expanded Group to grow further and become a global pacesetter within digital parking, electrical vehicle charging, and mobility services.
“Over the past 12 years, ParkMobile has emerged as the innovation leader in North America for contactless parking and mobility payments,” says Jon Ziglar, CEO of ParkMobile. “We are incredibly excited for this next chapter as we join forces with EasyPark Group to accelerate growth and expand our global footprint.”
“This is a historic milestone in the industry, and we are very excited to embark on this journey. Most of all, I am proud to be leading such a strong organization with talented employees. With global coverage and scale, as well as an integrated portfolio, we will be able to make cities more livable by driving the development of new, smart, and integrated digital services, says Johan Birgersson, CEO of EasyPark Group.
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 integration of these companies will be realized in several steps concerning commercial offerings, internal organization, and ways of working.
“We are now entering a discovery and integration phase where we will make sure to draw from the strength, knowledge, and spirit of both PARK NOW Group and EasyPark Group, to build our future success. Together we have a huge potential, and as one united company we will be able to offer even more value to drivers, businesses, cities, and parking operators all around the world”, says Birgersson.
The parties have agreed not to disclose the terms of the transaction.