SP Plus Corporation Acquires Assets of DIVRT, Inc., an Innovator in Frictionless Parking Technology

SP Plus Corporation (Nasdaq:SP), a leading provider of technology-driven mobility solutions for aviation, commercial, hospitality and institutional clients, announced that it has acquired certain assets of DIVRT, Inc.(“DIVRT”), a developer of innovative software and technology solutions that enable frictionless parking capabilities. SP+ has acquired all the intellectual property of DIVRT and a talented team of over 20 technology engineers based in India.

Marc Baumann, Chairman and Chief Executive Officer of SP+, commented, “This acquisition, coupled with our recent acquisition of KMP Associates Limited and its U.K.-based technology team, strengthens our position as a global provider of frictionless, SaaS solutions that are independent of our legacy parking management and transportation related operations. These transactions demonstrate the successful execution of our strategy to make acquisitions that we believe further enhance and complement our technological capabilities, expand our addressable market and help us accelerate growth.”

Jeffrey Eckerling, Chief Growth Officer of SP+, said, “We have been working with DIVRT since 2020, and they are a valuable partner. As we continue to expand our suite of Sphere technology solutions, we are excited to be able to welcome the DIVRT team of seasoned technology engineers, who will serve as the foundation of our new technology innovation lab based in Bengaluru, India. The creation of the technology lab enables us to accelerate our development efforts to bring innovative solutions that we believe will help us further differentiate ourselves from our competitors.”

Amit Rohatgi, founder and CEO of DIVRT, commented, "The entire DIVRT team is thrilled to join the company that’s leading the digital transformation of the parking industry. We’re excited to accelerate the adoption of frictionless technologies as we continue to develop innovative solutions for current and prospective clients.”

About SP+

SP+ facilitates the efficient movement of people, vehicles and personal belongings with the goal of enhancing the consumer experience while improving bottom line results for our clients. The Company provides professional parking management, ground transportation, remote baggage check-in and handling, facility maintenance, security, event logistics, and other technology-driven mobility solutions to aviation, commercial, hospitality, healthcare and government clients across North America and Europe. For more information visit www.spplus.com.

About DIVRT

DIVRT is a software, cloud and IOT technology company delivering parking management solutions.The company provides a range of proven and deployed cloud-based products for digitizing gated and gateless parking environments with contactless check-in/check-out, mobile payments, enforcement, and advanced live dashboards with rich reporting.