BMW Group acquires Parkmobile, will now help you to find parking spots using mobile app - The Financial Express

BMW Group acquires Parkmobile, will now help you to find parking spots using mobile app

BMW Group owned Parkmobile reaches a total of more than 22 million customers in Europe and North America and offers digital parking solutions in more than 1,000 cities.

By: | Published: January 18, 2018 4:44 PM
BMW Group acquires Parkmobile, LLC BMW Group acquires Parkmobile, LLC

German auto giant BMW Group has acquired North America's leading mobile parking services solution provider Parkmobile, LLC and BMW will now become the leader in providing digital parking solutions. Finding easy solution for making car parking easy is an important aspect of urban mobility. With connected cars and electric vehicles it will now be possible to integrate cars with parking lots making the overall hassle of car parking easier especially in urban areas.

“Up to 30 percent of city traffic is caused by people looking for parking spaces. The acquisition of Parkmobile, LCC makes us the leading international provider of digital parking solutions and means we can better address the pain point of parking by scaling our offering for customers worldwide,” said Peter Schwarzenbauer, member of the Board of Management of BMW AG.

Since 2013, BMW Group has held a minority stake in Parkmobile, LLC and with the acquisition of the company the company, over 100 employees, based in Atlanta, Georgia will now be under the BMW umbrella. Parkmobile, LLC offers its service in more than 300 US cities including New York, Philadelphia and Phoenix. Parkmobile Group Europe, whose brands also include ParkNow, has been wholly owned by the BMW Group since April 2016.

BMW GroupRepresentational Image

“We are proud of what Parkmobile has already achieved and look forward to working with our new colleagues to scale the business even further,” said Bernhard Blättel, head of Mobility Services at the BMW Group.

A report says that Parkmobile reaches a total of more than 22 million customers in Europe and North America and offers digital parking solutions in more than 1,000 cities.

“The BMW Group has always been on the forefront of disruptive mobility technology. Having access to new capital as well as the BMW Group’s global network of partners and customers puts us in an excellent position to accelerate our growth and expand further beyond North America. We could not imagine a better partner,” commented Jon Ziglar, CEO of Parkmobile, LLC.

Parkmobile’s service can be used by drivers irrespective of the car brands and enables ticketless and cashless on-street parking via an app or directly from the car. The service also helps users find, reserve and pay for off-street parking in garages as well as other transit related services.

Through innovative parking solutions, it helps to improve urban mobility. Digital parking solutions assist the driver and can reduce traffic from cars looking for parking, thus contributing to lower emissions in cities.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.