BMW Group and Daimler Mobility AG have agreed to sell their joint venture PARK NOW Group to EasyPark Group, subject to prior approval by the relevant authorities. PARK NOW is the parking operation of the carmakers’ YOUR NOW Joint Ventures along with services for car sharing (SHARE NOW), ride hailing and trip planning (FREE NOW/REACH NOW), as well as charging (CHARGE NOW) in Europe, and North and South America.
EasyPark, a strong and highly experienced international player that this year celebrates its 20-years anniversary, intends to acquire PARK NOW in order to further expand its business activities according to their global growth plan.
The proposed acquisition of PARK NOW Group enables EasyPark Group to take the next strategic step in becoming a global digital mobility player through combining state-of-the-art technology and coverage. Both shareholders, BMW Group and Daimler Mobility AG, have evolved PARK NOW Group into a global provider of digital parking services.
The intended sale of PARK NOW Group to EasyPark Group will expand the coverage of digital parking and mobility services—offering both on- and off-street parking, parking guidance (Find & Park), electrical vehicle charge functions and seamless in-car integration.
The parties have agreed not to disclose the terms of the transaction. The deal is subject to prior approvals by the relevant antitrust authorities.