The BMW Group has acquired Parkmobile, LLC, the largest provider of mobile parking services in North America, in making the BMW Group the leading international provider of digital parking solutions.
With its corporate strategy NUMBER ONE > NEXT, the BMW Group is firmly focused on the mobility of the future and investing heavily in tomorrow’s technologies, including expanding its range of mobility services. With the acquisition of Parkmobile, LLC, the company can better address an essential element of urban mobility: parking solutions.
“Up to 30 percent of city traffic is caused by people looking for parking spaces. The acquisition of Parkmobile, LCC makes us the leading international provider of digital parking solutions and means we can better address the pain point of parking by scaling our offering for customers worldwide,” said Peter Schwarzenbauer, member of the Board of Management of BMW AG, responsible for MINI, Rolls-Royce, BMW Motorrad, Customer Engagement and Digital Business Innovation BMW Group.
The BMW Group has held a minority stake in Parkmobile, LLC since 2014 and has now acquired the company. Parkmobile’s service can be used by drivers of all car brands and enables ticketless and cashless on-street parking via an app or directly from the car. Digital parking solutions assist the driver and can reduce traffic from cars looking for parking, thus contributing to lower emissions in cities.The service also helps users find, reserve and pay for off-street parking in garages as well as other transit related services.