Q-Free acquires parking management solutions company

108 Q-free has agreed to acquire Malta-based parking management solutions provider 3984 Traffiko for US$1.12 million; the deal also includes an earn-out condition that can generate up to US$1.12 million more.

Q-Free and Traffiko have long partnered in parking management systems projects, most recently in the APCOA contract to supply systems for parking garages at the Stockholm globe arena.

Traffiko offers a wide range of advanced traffic applications including secure cloud hosted web-based applications for car park management, journey time analysis, on- and off-street traffic related enforcement, access control, tracking, video analytics, traffic scene analysis, and revenue management, based on an integrated platform.                               

“We are happy to include Traffiko in our portfolio. Through this transaction in parking management solutions, we are now able to deliver a complete range of solutions within this fast growing segment,” says Q-Free CEO Thomas Falck.

“We are very enthusiastic about the opportunity to become part of a large international operation with a global network. The additional market exposure and availability of resources will contribute to further expansion of our business together with the rest of the Q-Free family,” says Angelo Dalli, CEO of Traffiko.