BMW and Daimler to sell Park Now business to EasyPark
BMW Group and Daimler Mobility have agreed to sell the Park Now Group business to rival firm EasyPark Group.
The Park Now digital parking solution was launched by BMW in 2012 to enable users to pay for parking in advance and has since been expanded under the merger between the two carmakers’ mobility services, as announced in spring 2018 and completed in early 2019. It now operates under the brands RingGo, Park Now, Park-line and Parkmobile in 11 countries as part of the Park Now Group portfolio of digital services related to parking; one of five mobility joint ventures between BMW and Daimler.
Terms of the sale to EasyPark have not been disclosed but the Park Now business will enable the European firm to expand further in the US and Europe while also expanding the Park Now coverage of digital parking and mobility services.
“We welcome EasyPark’s acquisition of our joint parking services business. This is a substantial step in the ongoing evolution of these digital services and will create a sustainable momentum to the benefit of customers and of further innovation,” said Rainer Feurer, vice president of corporate investments at BMW Group.
The sale of the Park Now Group will also enable BMW and Daimler to concentrate on their car making operations alongside the remaining mobility joint ventures.
The deal is subject to approval by the relevant antitrust authorities.