News

Parkmobile announces joint venture with SP+ Corporation

TOGETHER THEY WILL FOCUS ON PROVIDING ON-DEMAND AND PREPAID PARKING AND TRANSPORTATION TRANSACTION PROCESSING

Atlanta, GA – 30 October 2014 — Parkmobile USA, Inc. announced today that it has entered into an agreement to establish a joint venture with SP Plus Corporation. The agreement is anticipated to close on 31 October 2014. The joint venture, Parkmobile LLC, will be a leading provider of on-demand and prepaid transaction processing for on- and off-street parking and transportation services. Day-to-day operations of the joint venture will be the responsibility of the Parkmobile USA management team.

Combining 2 parking transaction engines

The Parkmobile joint venture will combine 2 parking transaction engines. Parkmobile will contribute its on-demand parking transaction engine that allows consumers to transact real-time payment for parking privileges in both on- and off-street environments. SP+ will contribute its proprietary Click and Park parking prepayment system, which enables consumers to reserve and pay for parking online in advance. The joint venture will be first to market with a comprehensive solution that addresses all parking verticals and consumer needs by leveraging the Parkmobile consumer brand and the Click and Park white label parking prepayment transaction engine. The fully-integrated solution will be available for deployment to existing Parkmobile and Click and Park clients and channel partners, including the approximately 4,200 locations and 2.1 million parking spaces operated by SP+.

Much-needed integrated mobility ecosystem

“Parking is an essential component of personal mobility, and this joint venture marks a transitional step towards a much-needed integrated mobility ecosystem,” said William Clay Ford, Jr., a Founding Partner of Fontinalis Partners LLC and Executive Chairman of Ford Motor Company.

With the resulting powerful transaction processing engine, businesses such as auto manufacturers, airlines, parking operators, ticket platforms, convention centers, stadiums, municipalities, universities, restaurants and an array of consumer-facing websites will be able to allow their customers to easily purchase and pay for parking and transportation services using any device having internet access, from smartphones to desktop computers.

An improved customer experience

“Parkmobile is delighted to partner with SP+ to bring a fully integrated parking payment and transaction processing solution to the North American market,” added Cherie Fuzzell, CEO of Parkmobile. “The combination of Parkmobile’s industry leading on demand mobile payments solution with the Click and Park suite of white-label solutions for prepaid parking payments and reservations is groundbreaking. The joint venture will improve the customer experience and streamline the back office operations for parking operators.”

Next-generation technology soon available

As the next-generation technology in the marketplace, the joint venture’s powerful transaction processing engine will provide in-dash reservation and processing services in support of the connected car products currently under development by major automobile manufacturers.

Customers will soon have the opportunity to pay for on-demand and prepaid parking from 1 mobile app using mobile applications for iPhone, Android, Windows 7, Blackberry and Amazon smartphones. The new integrated solution will become available through both the Parkmobile and ParkNow app, online via Parkmobile.com and ParkNow.com, or on a white label basis. Once registered, they can use a mobile app, the internet, or call toll free to pay for parking. After setting up the account, customers can immediately start using the system with their registered mobile phone. They can also select an option to receive alerts and reminders.

End of press release

About Parkmobile

Parkmobile USA, Inc. is the leading provider for on-demand and prepaid mobile payments for on- and off-street parking. Their services are used in more than 600 locations in the U.S. by millions of registered users. Parkmobile’s investors include Fontinalis Partners, Parkmobile Group, Bluefield Investments, BCD Group, BMW Group, SP+ Corporation and Urban Mobility. Fontinalis Partners, with offices in Detroit and Boston, is a venture capital firm strategically focused on Next-Generation Mobility. With annual global revenues of US$ 24 billion, including US$ 9.2 billion partner sales, BCD Group is an international market leader in corporate and online travel, off-airport parking and the mobile parking industry. SP+ Corporation’s SP+ Parking, Standard Parking and Central Parking brands operate more than 4,200 parking facilities with over 2.1 million parking spaces in hundreds of cities across North America, including parking- related and shuttle bus operations serving more than 75 airports. More about Parkmobile

About SP+

SP Plus Corporation provides professional parking, ground transportation, facility maintenance, security and event logistics services to property owners and managers in all markets of the real estate industry. SP+ has more than 23,000 employees. Its SP+ Parking, Standard Parking and Central Parking brands operate more than 4,200 parking facilities with over 2.1 million parking spaces in hundreds of cities across North America, including parking-related and shuttle bus operations serving more than 75 airports. USA Parking System, a wholly owned subsidiary, is one of the premier valet operators in the nation with more four and five diamond luxury properties, including hotels and resorts, than any other valet competitor. Its ground transportation division transports over 41 million passengers each year; its facility maintenance division operates in dozens of U.S. cities; and its security subsidiary provides licensed security services in six states. SP+ also provides a wide range of event logistics services. More about SP+

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