Parkeon and Cale announce completion of their combination
Parkeon, the world’s leading parking and ticketing services provider, and Sweden-based Cale, announce completion of their combination to create the future urban mobility technologies market leader.
Parkeon and Cale had entered into exclusive negotiations in November 2017. With completion of Parkeon’s works council consultation process, the final step has been carried out so that the transaction can now be executed.
Cale and Parkeon solutions will continue to be offered in order to ensure a smooth and seamless combination process for customers. The new group’s name will be announced in the near future.
The new group plans to continue strong investments within digitalization in order to bring innovative solutions to its 5 000 municipalities customer base as well as to its 100 million daily users. As of September 30, 2017, Parkeon and Cale posted revenues for the previous 12 months of c.€230m and c.€70m respectively.
Bertrand Barthélemy, CEO of Parkeon, and Anton Kaya, CEO of Cale, said: “We are thrilled that our planned Parkeon / Cale combination has been welcomed by all our stakeholders. We can’t wait to start the work and grow our new group to become the world leader in urban mobility technologies.”