Flowbird Group is the global market leader in on-street parking, working in more that 80 countries to promote a different version of a smart city for over 50 years. Its smart parking technology includes ticketing equipment, validation terminals and associated software systems for public transport, generating revenues of more than ¢300 million annually.
This acquisition sees Flowbird join forces with YourParkingSpace, with the aims of rapidly expanding Flowbird's off-street and digital offering, which they have invested in heavily over the past few years. As well as to help facilitate YourParkingSpace's international expansion later in the year.
Harrison Woods, CEO at YourParkingSpace, commented: "This deal ushers in an incredibly exciting new era for YourParkingSpace. It will enable us to tap into Flowbird’s unrivalled network, rapidly digitalising the off-street parking market on a global scale.”
Harrison added: “I’d like to put on record my thanks to our Chairman Andrew Higginson, who has flawlessly steered the business to the point of acquisition, our supportive investors Pelican Capital who believed in our vision and backed the company in 2020 during the height of the Covid-19 pandemic, our trusted advisors Solano Partners and most importantly our fantastic team who have been instrumental in the journey.”
Bertrand Barthelemy, President of Flowbird Group, commented: “With this strategic acquisition, Flowbird will benefit from YourParkingSpace’s off-street and marketplace technology. Bringing on board their technology and proven track record of delivery is very positive news for all our stakeholders: motorists, cities and parking operator partners.”