VIENNA & MCLEAN, Va.--(BUSINESS WIRE)--Kapsch TrafficCom AG announced that it has acquired controlling ownership of California-based Streetline, Inc., an innovative provider of smart parking solutions.
“Transportation’s future is about enabling exceptional user experiences with intelligent mobility solutions,” said Georg Kapsch, CEO of Kapsch TrafficCom AG. “Kapsch will integrate Streetline’s cutting-edge smart parking applications and data analytics with Kapsch’s intelligent transportation system (ITS) and world-class electronic toll collection (ETC) and traffic management solutions (TMS) to provide motorists with a better end-to-end transportation experience.”
With more than 350 million parking events in more than 30 cities, universities, and corporate campuses in North America and Europe, Streetline is a major provider of real-time parking data, analytics and other smart transportation applications.
Georg Kapsch added, “Streetline’s industry-leading smart parking solutions are an ideal complement to Kapsch TrafficCom’s electronic toll collection and traffic management solutions introducing ‘whole trip’ efficiencies.”
By expanding its global presence into the Silicon Valley, Kapsch TrafficCom’s position to develop and deliver new, valued-added transportation solutions using known and emerging technologies is also enhanced. “Streetline opens up new customer opportunities for Kapsch and offers smart parking solutions that assist motorists in finding available parking that best suits their needs,” said Manny Krakaris, President & CEO of Streetline.
About Kapsch TrafficCom
Kapsch TrafficCom is a provider of intelligent transportation systems (ITS) in the application fields of road user charging, urban access and parking, road safety enforcement, commercial vehicle operations, electronic vehicle registration, traffic management and V2X cooperative systems. Kapsch TrafficCom covers with end-to-end solutions the entire value creation chain of its customers as a one-stop shop, from components and design to the installation and operation of systems. The core business is to design, build and operate electronic toll collection systems for multi-lane free flow traffic.
References in 44 countries on all continents make Kapsch TrafficCom a recognized supplier of electronic toll collection systems worldwide. As part of the Kapsch Group, a family-owned Austrian technology group founded in 1892, Kapsch TrafficCom, headquartered in Vienna, Austria, has subsidiaries and representative offices in 33 countries. In North America, the company operates offices in the United States in California, Georgia, Kentucky, New Jersey, New York, Texas and Virginia, and also in Canada and Mexico. Kapsch TrafficCom AG has been listed on the Vienna Stock Exchange (KTCG) since 2007. The Kapsch TrafficCom Group generated with more than 3,300 employees revenues of EUR 487.0 million in fiscal year 2013/14. For additional information: www.kapsch.net and www.kapschtraffic.com
About Streetline, Inc.
Streetline’s award winning Parker© application is an easy to use iPhone and Android application that will empower Kapsch TrafficCom to engage closer with consumers than ever before for guidance, payment, and other services. Streetline’s ParkerMap© integrates ITS intelligence into a merchant’s website to solve key merchant needs for traffic information and parking convenience that encourages consumer spending. Streetline’s ParkSight© analytics and reporting platform empowers parking providers to optimize parking policy and resource utilization.
Streetline is a leading smart parking company delivering smart data and advanced analytics to solve parking issues for customers worldwide. Streetline’s pioneering technology makes the parking experience for consumers easier, while making cities, university and corporate campuses more efficient and reducing their carbon footprint.
Headquartered in Foster City, California Streetline has smart parking deployments across the U.S., Canada and Europe. The company was previously named one of Fast Company’s 10 Most Innovative Companies in Transportation, as well as IBM Global Entrepreneur of the Year. Streetline was also named Best Mobile Innovation for ‘Smart Cities’ for its Parker application at the 2013 Mobile World Congress. In addition, Streetline was named a Gartner 2013 Cool Company, was recognized with the 2013 Frost & Sullivan North American Competitive Strategy Leadership Award, and in September 2014 was elected to the Intelligent Transportation Society (ITS) World Congress Hall of Fame.