PARK NOW acquisition: Easy-Park wants not only to park but also to charge

The Stockholm-based Easy-Park Group has announced the acquisition of the BMW-Daimler joint venture company Park Now. The intended acquisition from the shareholders is subject to the approval by the authorities, it was restrictively mentioned. The Park Now Group, which operates in Germany with the app of the same name, has been on the market since 2016. Currently, the application is used in over 280 cities in Germany and Austria.

Under the umbrella of the Park Now Group, both owners of the Your Now joint venture have built a global provider of digital parking-solutions over the past few years. The Group operates in eleven countries under the brands RingGo, Park Now, Park-line and Parkmobile and offers a portfolio of digital services around parking in over 1,100 cities, both in parking garages and on-street. Customers can reserve, book, and pay for parking spaces online via the app.

Easy-Park: Not just parking, but also charging

The Swedish company EasyPark considers itself a rapidly growing, but so far primarily European mobility service provider, aimed at making it easier for drivers to both park and charge electric vehicles. With an integrated app, users could find, manage, and pay for parking spaces and charging stations, the provider advertises. With digital applications, they support customers, whether they are companies, cities, or parking operators, in the management, planning, and operation of parking garages and parking spaces in over 2,200 cities in 20 countries in Europe and Australia.

In Germany, the Swedes offer their service in approximately 260 cities. Through the planned acquisition, they expect to continue growing and expand their position as a global leader in digital parking services, according to sources in Stockholm. Thetwo companies complement each other ideally in market coverage in the USA and Europe, according to the argument. The conditions of the transaction were not disclosed, as the providers announced.