EasyPark Group, the parent company of parking specialist RingGo, has acquired Flowbird Group for an undisclosed fee.
The company says it will "use its combined capabilities to deliver full-service parking and transportation solutions to ease urban mobility globally and expand into new markets".
Flowbird boss Frédéric Beylier is leaving, although he said the deal marked "an exciting chapter for mobility, unlocking new possibilities".
EasyPark CEO Cameron Clayton will be CEO of the new joint company, which is owned by investment firms Vitruvian Partners, Verdane and Searchlight Capital Partners.
“Our broader set of offerings will empower our customers to optimise mobility and reinvest in public transportation, greenspaces and the revitalisation of urban centres," says Clayton.
The joint company will adopt a "localised approach", it says, meeting cities' needs "with a complementary mix of mobile paid parking, pay-and-display machines, public transport solutions, accompanied by suitable pricing, parking policies, data and insights".
More information about the new organisational structure will be revealed in the next few months.
