EasyPark Acquires Italian Market Leader
EasyPark has acquired Telepark, the largest provider in Italy within mobile payment solutions for parking. The acquisition brings EasyPark one step closer to its vision of providing mobile parking solutions in all of Europe. As soon as Telepark’s customers have been transferred to EasyPark’s phone parking service via smartphone apps or mobile phone, it will be possible to use the service from Hammerfest in the far North of Norway to Naples in Southern Italy.
By taking over Telepark, EasyPark steps up from being a Northern European provider to being a European provider within mobile payment solutions for parking. The service can be used in Denmark, Norway, Sweden, Finland, Germany, Austria, and very soon in Italy – a total of close to 200 cities plus contracts with over 50 parking operators. Telepark is an attractive investment for EasyPark because it has contracts with 35 of the largest municipalities in Italy, and it has the largest user base in the market as a whole.
“Telepark is a bridgehead for the Italian market from where we can implement our own business model. The market is among the most attractive in Europe due to its very high number of cars per capita. Furthermore, the average price for parking is also relatively high. This means that the incentive to use our flexible solution where you only pay for the time you actually park is very strong,” says Johan Birgersson CEO, EasyPark Group.
The existing mobile solution of Telepark will be phased out after the end of this year and replaced by EasyPark’s. A broad coverage for on-street parking in cites and off-street parking via parking operators is of great importance to get motorist to use the service and the take up rate is consequently very dependent on this. Cities and parking operators offer phone parking to motorist as a more convenient way of paying for parking and a way to attract motorist to their parking spots. Phone parking enables motorist to pay parking fees conveniently via the mobile phone instead of using cash or credit cards, and will consequently reduce the need of physical ticket machines over time. The scalability of EasyPark’s platform facilitates implementation in entered markets.
“In theory our mobile payment solution can be implemented all over the world. We have invested in a lean, scalable and state-of-the-art platform made for multi country and currency operations. The multi-layer architecture is based on modules, enabling continued innovation of digitalized services that brings value to cites, parking operators and motorists. Every time we enter a new market via acquisition we will phase out the existing solution and replace it with our own. Now we have made entry in Italy, but we continuously monitor what is happening on the remaining European markets. If a similar opportunity presents itself in another market we will not hesitate and seek to make entry on that market as well,” says Johan Birgersson.
EasyPark is on an aggressive growth path with the backing of Verdane Capital Vll, the majority shareholder.
For further information:
Johan Birgersson CEO, EasyPark Group
+46 708 326 758 | email@example.com