BMW Group and Daimler Mobility to sell PARK NOW Group to EasyPark Group

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 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 operates under the brands RingGo, PARK NOW, Park-line and Parkmobile in 11 countries. PARK NOW 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 in one seamless application. With its cutting-edge technology, EasyPark supports its users, the companies they work for, cities and parking operators with parking administration, planning and management 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 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 livable 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.

PARK NOW CEO Jörg Reimann says: “PARK NOW and EasyPark 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.”

Eli Grossinger Binshtok, Australia and New-Zealand Country Director says: “It’s very exciting that EasyPark now takes the next step in our growth plan the intended acquisition of PARK NOW. This means that we can further innovate and develop our services portfolio in Australia and New Zealand and grow our business by reaching more customers and users through services that we will continue to develop to create more value for the cities, parking operators and drivers. I am really looking forward to embarking on this journey.”

The parties have agreed not to disclose the terms of the transaction. The deal is subject to the usual prior approval by the competent authorities.

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