INRIX, which provides traffic data to high-profile clients around the world, has agreed to acquire ParkMe, a company that provides a “smart parking” service that allows customers to locate, reserve and pay for parking via their smartphones.
The deal will allow INRIX to expand the features and data that it provides to clients, such as Tesla Motors Inc TSLA 0.71% and Google Inc GOOGL 0.65% GOOG 0.71%.
Terms
The terms of the deal will not be disclosed, but ParkMe co-founder Alexander Israel told Benzinga that all 25 members of the ParkMe team, including co-founders Israel and Sam Friedman, will be joining INRIX.
ParkMe and INRIX have already been collaborating on projects for about three years, so the transition on the business end should be a relatively smooth one.
“Both myself and our team, as well as our investors, are very excited about this deal,” Israel said on Thursday.
ParkMe’s list of investors includes Fontinalis Partners, a venture capital firm founded in 2009 by Bill Ford that seeks to invest in companies with creative next-generation mobility solutions for moving goods, people and services.
Expanding Distribution
For ParkMe, joining forces with INRIX means…
Click here to continue reading
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!