Infra Park acquires technology and assets from Estonian NOW! InnovationsInfra Park, the world leader in individual mobility solutions, has acquired the software platform developed by NOW! Innovations OÜ, a parking management and payment software provider born in Estonia. Infra Park is the mother company of Indigo, the world leader of parking and individual mobility, headquartered in La Défense, France.
NOW! Innovations is a leading start-up company in the field of SaaS solutions for parking and mobility services, born in Estonia. NOW! Innovations was backed by Smartcap, an investment arm of the Estonian Development Fund (EDF), Artiston Invest, Caplia and other local business angels. It has developed the world’s leading cloud-based software platform to manage billing and payment for parking and other mobility services. Now! Innovations’ technology supports annually close to 50 million transactions throughout Europe and North America. MobileNOW!, a subsidiary of NOW! Innovations, is a pioneering provider of digital parking payments in the United States.
Infra Park has acquired the technology, brand and customer contracts of NOW! Innovations, as well as its subsidiary MobileNOW!, a leading mobile payment provider for drivers in the United States.
Infra Park will continue to offer NOW! Innovations’ SaaS platform as independent business, to municipalities, parking operators and mobility service providers worldwide.
Üllar Jaaksoo, CEO of NOW! Innovations, has declared: ““NOW! Innovations’ team is proud to join Infra Park, a strong global group that will enable us to further deploy our technology worldwide, both to Infra Park Group companies and to new clients. Our technology will continue to be enhanced by our world-class software development team, which will remain based out of Tallinn, Estonia, and our business development team resumes operations in our Amsterdam office”.
Pirko Konsa, Managing Director of Estonian Development Fund, said: “Innovative software that was developed in Estonia and used in many countries would be now more widely applied in many markets. It is exactly why EDF was created nine years ago, for fostering the evolvement of smart jobs and promoting innovation in Estonia, to help the country to become a foothold of the knowledge-based economy”.
Tark Grunte Sutkiene and Glimstedt acted as legal advisers to the sellers.
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