SP+ and Parkmobile Announce Joint Venture

SP+ recently established a joint venture with Parkmobile USA, Inc., which closed on October 31, 2014. The joint venture, named Parkmobile, LLC, will be a leading provider of on-demand and prepaid transaction processing for on- and off-street parking and transportation services. Parkmobile USA’s management team will lead the venture’s day-to-day operations.

This new venture will combine our Click and Park® prepayment system with Parkmobile’s on-demand parking transaction engine, which currently allows consumers to transact real-time payment for parking in both on- and off-street environments. The joint venture will become a comprehensive solution that addresses all parking verticals and consumer needs by leveraging the Parkmobile consumer brand and the Click and Park® prepayment transaction engine.

The resulting platform will allow businesses such as auto manufacturers, airlines, parking operators, ticket platforms, convention centers, stadiums, municipalities, universities, and consumer-facing websites the ability to provide pre-paid parking and transportation services using any device having internet access.

“The Parkmobile joint venture represents the next step in our company’s vision to use leading-edge technology and payment options to provide solutions that help our clients better serve their customer bases,” said James A. Wilhlem, Chief Executive Officer of SP+. “As the next-generation technology in the marketplace, the joint venture’s powerful transaction processing engine will serve businesses of all kinds.”

Any inquiries related to this joint venture can be sent to mwolf@spplus.com.

Official SP+ Announcment

Parkmobile Announcement