BMW Group acquires Parkmobile, LLC to become world’s leading provider of digital parking solutions
The BMW Group has acquired Parkmobile, LLC, the largest provider of mobile parking services in North America, in January 2018, making the BMW Group the leading international provider of digital parking solutions.
With its corporate strategy NUMBER ONE > NEXT, the BMW Group is firmly focused on the mobility of the future and investing heavily in tomorrow’s technologies, including expanding its range of mobility services. With the acquisition of Parkmobile, LLC, the company can better address an essential element of urban mobility: parking solutions.
“Up to 30 percent of city traffic is caused by people looking for parking spaces. The acquisition of Parkmobile, LCC makes us the leading international provider of digital parking solutions and means we can better address the pain point of parking by scaling our offering for customers worldwide,” said Peter Schwarzenbauer, member of the Board of Management of BMW AG, responsible for MINI, Rolls-Royce, BMW Motorrad, Customer Engagement and Digital Business Innovation BMW Group.
The BMW Group has held a minority stake in Parkmobile, LLC since 2014 and has now acquired the company with its over 100 employees, based in Atlanta, Georgia. Parkmobile, LLC offers its service in more than 300 US cities including New York, Philadelphia and Phoenix. Parkmobile Group Europe, whose brands also include ParkNow, has been wholly owned by the BMW Group since April 2016.
“We are proud of what Parkmobile has already achieved and look forward to working with our new colleagues to scale the business even further,” said Bernhard Blättel, head of Mobility Services at the BMW Group.
Parkmobile reaches a total of more than 22 million customers in Europe and North America and offers digital parking solutions in more than 1,000 cities.
“The BMW Group has always been on the forefront of disruptive mobility technology. Having access to new capital as well as the BMW Group’s global network of partners and customers puts us in an excellent position to accelerate our growth and expand further beyond North America. We could not imagine a better partner,” commented Jon Ziglar, CEO of Parkmobile, LLC.
Parkmobile’s service can be used by drivers of all car brands and enables ticketless and cashless on-street parking via an app or directly from the car. The service also helps users find, reserve and pay for off-street parking in garages as well as other transit related services.
Through innovative parking solutions, the BMW Group is actively helping improve urban mobility. Digital parking solutions assist the driver and can reduce traffic from cars looking for parking, thus contributing to lower emissions in cities.