Passport advances its mobility platform with NuPark acquisition
Passport announced it has acquired NuPark, a leading parking management technology company. NuPark's license plate recognition (LPR)-based enterprise management solution for enforcement and permitting is expected to help complement Passport's base of mobile payment solutions to create a comprehensive mobility platform. Approximately one in three vehicles in the U.S. are processed through the combined system network.
"With NuPark, we see an opportunity to create a differentiated offering for our clients, enabling them to further automate their operations under a single platform," said Passport CEO, Bob Youakim. "Our technologies are very complementary, and we are aligned by a shared vision. We see this as a unique opportunity to fundamentally change the mobility space and the industry for the better."
"This combination accelerates our ability to empower our customers with next generation management solutions," said Kevin Uhlenhaker, NuPark CEO. "Our shared vision, to leverage technology to create a better customer experience and enable one-to-one connections, align perfectly. Ultimately our goal is to create transportation solutions that work and provide added value."
Passport says that its addition of NuPark enables it to better serve clients by offering an integrated suite of software solutions, backed by a strong payments backbone, processing over $400M in transportation payments per year.