Easy Park acquired its competitor, Inteleon, merges services with SMS Park.

Sweden M&A 27 August 2019
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Easy Park, a Stockholm, Sweden-based provider of digital parking services, entered into an agreement for acquiring its competitor, Inteleon AB, also based in Sweden, in Gothenburg (Mölndal).

The financial details of the deal were not disclosed.

Inteleon, founded in 2010 and led by CEO Johan Kittelvill, is the developer of SMS Park, a text-based service used by card drivers in order to pay for parking spaces. The company is profitable and has sales of SEK 443M ($46M) registered in 2018.

Easypark Group, founded in 2001 and led by CEO Johan Birgersson, has developed an app that will make it easier for road users to find free parking spaces and pay for them directly on the mobile. The company is active in 900 cities from 14 countries and in Sweden it had a turnover of SEK 404 million ($42M).

Easy Park is owned by Verdane Capital and Vitruvian Partners, with the latter having bought the majority of the shares in 2017.