Traffic information firm INRIX has acquired the parking company ParkMe.
ParkMe, based in the Californian city of Santa Monica helps consumers find parking, make reservations and mobile payments worldwide. INRIX says that the deal makes them “the preferred provider of parking information and services to leading automakers, transportation agencies and drivers around the world”.
In expanding the company’s data aggregation and industry expertise, the company says the acquisition helps INRIX more rapidly deliver a comprehensive set of parking services, including finding, comparing, reserving, and paying for parking from a smartphone or vehicle. With these expanded capabilities, the acquisition further solidifies the company’s leadership as it expands the breadth and depth of the parking services it offers to Audi, BMW and Lexus, among others.
“For ten years INRIX has been focused on analyzing and facilitating the movement of vehicles around the world, and that includes avoiding congestion during a trip and at the drivers’ destination. Over time, we’ve expanded our service to include real-time fuel price information, EV charging, even parking,” said Bryan Mistele, president and CEO of INRIX. “Today, ParkMe and INRIX become one company. Fueled by a talented staff and an unrivaled set of breakthrough technologies, together we provide customers with the best source of driving intelligence in all its forms – traffic, fuel, EV, intermodal navigation and parking worldwide.”
ParkMe Co-Founder and COO Alex Israel added, “We are excited that becoming part of INRIX gives us the opportunity to work with some of the world’s leading automotive companies as we provide our services to millions of users around the world.”
ParkMe will continue to operate from its office in Santa Monica, CA. The ParkMe brand and mobile applications will continue and there will be no service interruptions for existing ParkMe consumer and enterprise customers. Terms of the deal are not being disclosed.