The proposed acquisition of PARK NOW Group enables EasyPark Group to take the next strategic step in becoming a cutting-edge global digital mobility player through combining state-of-the-art technology and coverage. Both shareholders, BMW Group and Daimler Mobility AG, have evolved PARK NOW Group into a global provider of digital parking services. The intended sale of PARK NOW Group to EasyPark Group will expand the coverage of state-of-the-art digital parking and mobility services - offering both on- and off-street parking, parking guidance (Find & Park), electrical vehicle charge functions, and seamless in-car integration.
As announced at today’s signing, BMW Group and Daimler Mobility AG have agreed to sell their joint venture PARK NOW Group to EasyPark Group, subject to prior approval by the relevant authorities. PARK NOW is the parking operation of the carmakers’ YOUR NOW Joint Ventures along with services for car-sharing (SHARE NOW), ride-hailing, and trip planning (FREE NOW/REACH NOW), as well as charging (CHARGE NOW) in Europe, and North and South America. EasyPark, a strong and highly experienced international player that this year celebrates its 20-years anniversary, intends to acquire PARK NOW Group in order to further expand its business activities according to their global growth plan.
Under the umbrella of PARK NOW Group, both owners of the YOUR NOW Joint Ventures have developed a global provider of digital parking services in recent years. PARK NOW Group operates under the brands RingGo, PARK NOW, 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. With its cutting-edge technology, EasyPark supports its users, the companies they work for, cities, and parking operators with parking administration, planning, and management working seamlessly in over 2,200 cities across 20 countries throughout Europe and Australia. The company was recognized by Deloitte as one of the “Best Managed Companies” in 2019 and 2020.
The intended acquisition of PARK NOW Group enables EasyPark to grow further and become a global pacesetter in parking-related digital mobility services. The two companies are perfectly positioned for market coverage in the US and Europe. Both service providers are deeply committed to customer satisfaction, and share a corporate culture based on technological enthusiasm and a relentless pursuit of improvement. They are driven by a passion for smart mobility and cleaner, more liveable cities. With its global coverage and scale as well as an integrated portfolio, EasyPark intends to fund additional growth and expansion and will offer even better, integrated services to their customers in the future.
“We welcome Easy Park’s acquisition of our joint parking services business. This is a substantial step in the ongoing evolution of these digital services and will create a sustainable momentum to the benefit of customers and of further innovation,” says Rainer Feurer, Vice President of Corporate Investments at BMW Group.
“With PARK NOW, we have built up a significant player in the digital services market. PARK NOW and EasyPark are a perfect match that will provide attractive offers for customers worldwide,” says Stephan Unger, Member of the Board of Management of Daimler Mobility for Finance, Controlling, Risk Management, and Digital Mobility Solutions.
“We are pleased to welcome PARK NOW Group, its customers, and the whole team to the 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 innovative capabilities,” says Johan Birgersson, CEO of EasyPark Group.
PARK NOW Group CEO Jörg Reimann says: “PARK NOW Group and EasyPark Group share a common goal - to create solutions that streamline parking into something simple, quick, and effortless for drivers, operators, and cities. It feels good to further drive innovation with EasyPark. For the parking business, the conditions to build and win scale through this process are particularly strong. The whole is greater than the sum of its parts.”
The parties have agreed not to disclose the terms of the transaction. The deal is subject to prior approvals by the relevant antitrust authorities.
Daimler Mobility AG
Dr. Britta Ullrich
About EasyPark Group
EasyPark is a fast-growing, leading European tech company that helps drivers find and manage parking and EV charging. Our technology helps businesses, operators, and cities with parking administration, planning, and management in over 2200 cities across 20 countries. What we do is make urban life easier – one parking spot at a time. Visit www.easyparkgroup.com to learn more!
About PARK NOW
PARK NOW has one goal: to revolutionize the parking industry by making it enjoyable, easy, and hassle-free. Since its founding in 2000 the PARK NOW Group has been the leading provider in the world for on-demand mobile payments for on- and off-street parking. We make parking smarter, simpler, and effortless for drivers and operators so that everyone can enjoy a delightful mobility experience whilst making our cities cleaner, healthier, and more livable. Parking is not the end of a journey but the start of one. Our integrated parking solutions, also available in-car, are used in more than 1.000 cities around the world and by more than 30 million users. Since February 2019 PARK NOW is part of the NOW Group (https://www.your-now.com/), a joint venture between BMW Group and Daimler, which is aiming to become the number 1 in innovative mobility solutions across the world.