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ParkHub and JustPark Merge with Strategic Investment to Create Full-Service Parking Solutions

Mar 25, 2024•over 1 year ago

Acquiring Company

ParkHub

Acquired Company

ParkHub

DallasLondonMarketplaceTransportationInternet

Description

ParkHub, a leading North American parking management software and payments solutions provider, has agreed to merge its business with JustPark, one of the UK’s leading app-based parking reservations technology and payments platforms. The combined company aims to offer a full-service parking software and payments solution for customers across North America and the United Kingdom. Additionally, a strategic growth investment has been secured by ParkHub led by FTV Capital with participation from existing investor LLR Partners.

Company Information

Company

ParkHub

Location

620 EXPOSITION AVENUE

Dallas, Georgia, United States

About

ParkHub is optimizing the world's journeys by providing cutting-edge enterprise technology to support the destination industry. The company's products offer contactless payment options, real-time operational data, robust performance analytics, and leading integrations with ticketing and parking reservation providers. For more information, visit parkhub.com.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed