Daimler, BMW Unload Parking App To Focus On Core Business

Daimler, BMW Unload Parking App

EasyPark Group, which works in parking and mobility technology, has announced that it will be acquiring North America’s ParkMobile from Daimler and BMW, according to a press release.

ParkMobile has been a part of the PARK NOW Group, a mobility joint venture from Daimler and BMW, since March 2019. According to the release, the transaction isn’t approved yet, and the parties haven’t disclosed any terms.

If approved, the acquisition would expand EasyPark’s footprint into the North American market, the release stated. ParkMobile has a presence in 450 cities there already, including eight of the top 10.

“Over the past 12 years, ParkMobile has emerged as the technology leader in North America for contactless parking and mobility payments,” said ParkMobile CEO Jon Ziglar in the release. “Joining forces with EasyPark Group will enable us to continue this momentum into the future and opens up an array of new global growth opportunities.”

EasyPark is backed by private equity firms Verdane Capital and Vitruvian Partners. It operates in 2,200 cities across 20 countries in Europe and Australia.

“We are pleased to welcome the ParkMobile team to EasyPark Group,” said EasyPark Group CEO Johan Birgersson in the release. “This acquisition is strategically important to accelerate our long-term growth and innovation capabilities across the globe.”

BMW and Daimler formed the PARK NOW Group in 2019 in a billion-euro mobility partnership, bringing together five types of services: Reach Now, Share Now, Free Now, Park Now and Charge Now, according to PYMNTS.

The group was intended to help form a singular unit to promote an all-electric, self-driving fleet of vehicles to charge and park autonomously and interact with other modes of transport.

Share Now, for example, is an app for rentals and payments for vehicles from one’s mobile phone. At the time of the PYMNTS report, the automakers said Share Now serves 20,000 vehicles and 31 cities. Park Now works for parking reservations and other parking needs, while Free Now touts private chauffeurs, eScooters and taxis.