EasyPark Group has announced its intention to expand the coverage of its digital parking and mobility services by acquiring rivals Park Now Group.
The proposed acquisition of Park Now from the shareholders BMW Group and Daimler Mobility is subject to prior approval by relevant authorities. Park Now Group operates in the UK under the name RingGo, and under other names including Park-line and Parkmobile in 11 countries
Park Now Group offers a broad portfolio of digital services related to parking − both in car parks and on-street in more than 1,100 cities. Customers can reserve, book and pay for parking spaces online in advance via the app.
EasyPark is a fast-growing, European mobility company that helps drivers remotely find, manage and pay for both parking and electric vehicle charging in one seamless application. With its cutting-edge technology, EasyPark supports its users, the companies they work for, cities and parking operators with parking administration, planning and management in over 2,200 cities across 20 countries throughout Europe and Australia. The two companies are perfectly positioned for market coverage in the US and Europe.
“EasyPark and RingGo are driven by the same passion for smart mobility and cleaner, more livable cities,” says Peter O’Driscoll, managing director, RingGo. “RingGo is the innovation leader for emission-based parking solutions and leveraging our combined skills to offer advanced parking solutions to more customers, cities and operators will allow us to significantly accelerate our journey towards a cleaner and smarter future of mobility.”
“We are pleased to welcome PARK NOW, its customers and the whole team to the EasyPark Group,” says Johan Birgersson, CEO of EasyPark Group. “This enables us to add value and simplify mobility in day-to-day life for more cities, parking operators and our joint users. The acquisition is strategically important in order to accelerate our long-term growth and innovative capabilities.”
The parties have agreed not to disclose the terms of the transaction. The deal is subject to prior approval by the competent authorities.