Parkeon and Cale Announce Completion of their Combination

Parkeon and Cale had entered into exclusive negotiations in November 2017. With completion of Parkeon’s works council consultation process, the final step has been carried out so that the transaction can now be executed.

Cale and Parkeon solutions will continue to be offered in order to ensure a smooth and seamless combination process for customers. The new group’s name will be announced in the near future.

The new group plans to continue strong investments within digitalization in order to bring innovative solutions to its 5 000 municipalities customer base as well as to its 100 million daily users. As of September 30, 2017, Parkeon and Cale posted revenues for the previous 12 months of c.€230m and c.€70m respectively.

Bertrand Barthélemy, CEO of Parkeon, and Anton Kaya, CEO of Cale, said: “We are thrilled that our planned Parkeon / Cale combination has been welcomed by all our stakeholders. We can’t wait to start the work and grow our new group to become the world leader in urban mobility technologies.”

About Parkeon 

Parkeon is a key player in the area of urban mobility. By offering a unique range of solutions for parking management and transport ticketing, Parkeon now has operations in 60 countries and is accelerating growth in the emerging markets in Eastern Europe, Asia and South America. Its capacity to innovate continually is demonstrated every day. Parkeon Parking and Transportation solutions are facilitating mobility in more than 4000 cities.

About Cale 

Cale offers innovative and efficient parking and transit payment solutions to improve urban mobility for Smart Cities. From the start in 1955, Cale has developed into a world leading brand within the parking business, with a turnover close to a billion SEK. Cale has subsidiaries, distributors and customers all around the world. Cale specializes in customizing technology, may it be for parking terminals, mobile payment solutions, transaction handling or centralized software systems, and converts this into functionality, always with the highest possible focus on the parking operator as well as the driver.

You are welcome to visit our website, www.calegroup.se, to read more about our products and services, or feel free to contact us.