Capita Acquires ParkingEye

UK outsourcing company Capita is to acquire ParkingEye, a provider of technology based car parking services, for an enterprise value of U$93 million on a cash free debt free basis. ParkingEye's automatic number plate recognition (ANPR) based management system is used by clients to provide remote enforcement, management information and alerting systems. The technology, which is adaptable across market sectors, is designed to ensure that car parks are used by individuals with a legitimate right to use them
October 25, 2013 Read time: 2 mins
UK outsourcing company 4056 Capita is to acquire ParkingEye, a Provider of technology based car parking services, for an enterprise value of U$93 million on a cash free debt free basis.

ParkingEye's automatic number plate recognition (ANPR) based management system is used by clients to provide remote enforcement, management information and alerting systems. The technology, which is adaptable across market sectors, is designed to ensure that car parks are used by individuals with a legitimate right to use them and allows clients to retain a fair approach to parking charges and cancellations. The business currently provides services to clients such as Aldi, Morrisons and British Land.

Speaking of the acquisition, Capita chief executive Paul Pindar said: "This acquisition will allow Capita to develop a complete and sophisticated car park management and enforcement business for new and existing clients in leisure, local government, the NHS, education and the retail industry, including Capita's extensive customer base. It has synergies with our existing cash collection and payment processing business and will allow us to offer clients the benefits of a well-managed car park, creating availability for customers, citizens and patients."
Detection, Monitoring & Machine Vision

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