As EasyPark Clinches Its Deal for ParkMobile, Rivalry in Parking Apps Could Get Hotter

Vendors of parking apps in North America have an even more potent new competitor with the closing on Tuesday of EasyPark Group’s acquisition of the Park Now Group, which includes Atlanta-based ParkMobile LLC. The deal, which the companies announced in March, brings a major North American stake to Stockholm-based EasyPark, whose operations are largely in Europe.

ParkMobile operates in 450 cities in North America, including eight of the 10 largest by population, according to information the two companies released earlier. The 13-year-old company says its app has 26 million users, ranking it among the most widely used among drivers. 

Parking apps, which locate available spaces and allow drivers to pay for them, have taken on increased popularity with consumers’ general preference for contactless payments in the face of the Covid-19 pandemic. They typically charge transactions to a card embedded by the user and make money by levying a convenience fee on top of the cost of parking. With ParkMobile, the fee is 35 cents, a sum sources say is fairly standard. As with other providers of parking apps, the company has concentrated on such markets as college campuses, airports, and stadiums.

Now, EasyPark Group hopes to leverage ParkMobile to tap into the huge North American market. “With global coverage and scale, as well as an integrated portfolio, we will be able to make cities more livable by driving the development of new, smart, and integrated digital services,” said Johan Birgersson, chief executive of EasyPark, in a statement. EasyPark operates in 2,200 cities located in some 20 countries, according to information from the company. Besides ParkMobile, companies offering apps in North America include PayByPhone, ParkWhiz, and SpotHero

Other assets EasyPark is picking up include Park Now’s European apps, including Park Now and ParkMobile Europe. ParkMobile became part of Park Now, a joint venture of the automobile giants Daimler and BMW, in March 2019. “Together we have a huge potential, and as one united company we will be able to offer even more value to drivers, businesses, cities, and parking operators all around the world,” Birgersson said.

Terms of the acquisition were not disclosed.