Category Archives for: Self-driving cars

Metropolis Technologies, Inc. to Acquire SP Plus Corporation for $1.5 Billion

October 06, 2023

Metropolis Technologies, Inc. to Acquire SP Plus Corporation for $1.5 Billion

SP Plus Corporation stockholders to receive $54.00 per share in cash, representing a 52% premium to the closing stock price on October 4, 2023 and a 28% premium to the 52-week high

Combination of Metropolis Technologies, Inc. and SP Plus Corporation provides clients with additional opportunities to enhance the consumer experience and improve efficiencies

Metropolis Technologies, Inc. has secured $1.7 billion in committed financing led by Eldridge and 3L Capital, along with new investors including BDT & MSD Partners’ affiliated credit funds, Vista Credit Partners, and Temasek

LOS ANGELES & CHICAGO—-Metropolis Technologies, Inc. (“Metropolis”), a technology company whose computer vision platform enables checkout-free payment experiences, and SP^® Plus Corporation (Nasdaq:SP) (“SP+”), a best-in-class technology and operations management provider of mobility services for aviation, commercial, hospitality, and institutional clients throughout North America and Europe, today announced that they have entered into a definitive agreement under which Metropolis will acquire SP+ for $54.00 per share in cash. This represents a premium of approximately 52% to the SP+ closing stock price on October 4, 2023 and approximately 28% to its 52-week high for an aggregate enterprise value of approximately $1.5 billion.

Metropolis develops and deploys leading-edge computer vision technology that creates a “drive in and drive out” payment experience for consumers while increasing transparency, capturing revenue and reducing costs for real estate owners. To date, Metropolis has focused on bringing this checkout-free technology to its managed parking facilities, enabling top-tier real estate owners in 40+ major U.S. metropolitan centers to capture revenue from more than five million consumers who do not have to stop to pay. Metropolis was founded in 2017 and is led by Alex Israel, Travis Kell, Peter Fisher, and Courtney Fukuda.

SP+ is a best-in-class technology and operations management provider, with a long track record of bringing together innovative solutions with superior service. SP+ has over 20,000 team members who manage approximately two million parking spaces and provide services at over 3,300 commercial locations and over 160 airports. Through its Sphere Commerce technology solutions, SP+ offers clients a compelling value proposition and the ability to implement technology upgrades that enable frictionless transactions.

Metropolis and SP+ share a vision of enhancing the consumer experience utilizing technology while improving efficiencies. With the acquisition of SP+, Metropolis will be able to bring new capabilities to North America’s leading network with operations in over 360 cities, serving millions of consumers and processing over $4 billion in payments annually. This expanded market for checkout-free payment experiences offers new opportunities for property owners and managers to capture value and reduce inefficiencies.

“Today we announced a transformational acquisition that represents both a new paradigm in how technology companies grow and a significant step forward in offering consumers a remarkable experience,” said Alex Israel, Co-founder and Chief Executive Officer of Metropolis. “SP+ is a phenomenal business whose operational excellence, talented leadership team and high customer satisfaction levels have long made it a key partner to real estate owners across North America. The combined platform will seek to bring checkout-free payment experiences to consumers.”

Israel continued, “While transforming the parking experience is our focus and priority today, as we deploy our proven technology we see opportunity to offer checkout-free transaction experiences at even more places people go. From gas and electric vehicle-charging stations to drive-thrus and car washes, as well as retail stores, our computer vision platform enables people to transact in the physical world with even greater ease than we experience online. We’re excited about the future with our new colleagues from SP+.”

“This transaction delivers immediate and certain value to our stockholders at a substantial premium to current and historical trading levels. We expect the transaction to offer an exciting path forward for our team members, partners, clients and consumers in the U.S. and abroad. While our technology offerings are successfully fulfilling client and market demand, with increased investment, we see the opportunity to accelerate the technology roadmap for the benefit of our clients and their customers,” said Marc Baumann, Chairman and Chief Executive Officer of SP+. “Combining with Metropolis will advance the pace of technology deployment, which will allow us to do more for existing clients and add new ones as we provide additional high-quality, cutting-edge client and consumer experiences.”

“Metropolis has built a thoughtful and differentiated platform that provides consumers with an efficient, frictionless experience,” said Tony Minella, Co-founder and President of Eldridge, an existing Metropolis investor that is leading the financing of the transaction. “We are excited to deepen our partnership with Alex and the rest of the Metropolis team and to support their efforts to accelerate the company’s vision, and are proud to work with a tremendous group of investors that will support the company’s growth.”

Transaction Details

Metropolis has obtained commitments for equity and debt financing totaling $1.7 billion to complete the transaction, consisting of $1.05 billion in Series C preferred stock financing and $650 million of debt financing. These financing commitments are led by Eldridge and existing Metropolis investor 3L Capital, along with new investors including BDT & MSD Partners’ affiliated credit funds, Vista Credit Partners, and Temasek. Other existing investors, Slow Ventures and Assembly Ventures, participated. Metropolis will use the net proceeds to finance the acquisition of SP+, while retaining significant capital on its balance sheet.

The transaction is expected to close in 2024, subject to receipt of required regulatory approvals and approval of SP+’s stockholders, as well as other customary closing conditions. The boards of directors of both companies have unanimously approved the transaction, and the board of directors of SP+ recommends that SP+ stockholders vote in favor of the transaction. Upon completion of the transaction, shares of SP+ common stock will no longer trade publicly. Metropolis will continue to be founder-led and founder-controlled as a private company, with participation by other equity investors.

Goldman Sachs & Co. LLC and BDT & MSD Partners, LLC are serving as financial advisors to Metropolis. Goldman Sachs & Co. LLC acted as placement agent on the Series C transaction, and Maranon Capital L.P. (an Eldridge affiliate) and Goldman Sachs & Co. LLC acted as joint lead arrangers on the debt financing. Willkie Farr & Gallagher LLP and Fenwick & West LLP are serving as legal advisors to Metropolis. Morgan Stanley & Co. LLC. is serving as financial advisor to SP+, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to SP+. Sidley Austin LLP is serving as legal advisor to Eldridge.

About Metropolis
Metropolis is an artificial intelligence company for the real world. Metropolis’ computer vision platform enables people to transact in the physical world with even greater ease than we experience online. Today, we are reimagining parking. Because it’s important, it’s everywhere, and impacts everyone – enabling millions of consumers to just “drive in and drive out” – that’s it. Tomorrow, we will power “checkout-free” experiences anywhere you go. www.metropolis.io

About SP+
SP+ (www.spplus.com) develops and integrates industry-leading technology with best-in-class operations management and support to deliver mobility solutions that enable the efficient and time-sensitive movement of people, vehicles, and personal travel belongings. With over 20,000 team members located throughout North America and Europe, SP+ is committed to providing solutions that make every moment matter for a world on the go.

About Eldridge
Eldridge invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media & Music, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices across the United States and in London. To learn more about Eldridge, please visit www.eldridge.com.

About 3L
3L is a private equity firm that invests in emerging growth companies. The firm backs innovative founders and management teams across the Commerce, Enterprise Software and Tech-enabled Services landscapes, with a particular emphasis on opportunities where M&A and creative financing strategies can augment strong organic growth. 3L provides management teams with the capital, perspective, and relationships needed to become category leaders. The firm is based in Los Angeles and New York City. To learn more about 3L, please visit www.3lcap.com

Use of Forward-Looking Statements
This communication includes certain “forward-looking statements” within the meaning of, and subject to the safe harbor created by, the federal securities laws, including statements related to the proposed merger of SP+ with an affiliate of Metropolis (the “Transaction”), including financial estimates and statements as to the expected timing, completion and effects of the Transaction. These forward-looking statements are based on SP+’s current expectations, estimates and projections regarding, among other things, the expected date of closing of the Transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by SP+, all of which are subject to change. Forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “aims,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “considered,” “potential,” “estimate,” “continue,” “likely,” “expect,” “target” or similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. By their nature, forward-looking statements address matters that involve risks and uncertainties because they relate to events and depend upon future circumstances that may or may not occur, such as the consummation of the Transaction and the anticipated benefits thereof. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the completion of the Transaction on anticipated terms and timing, including obtaining required stockholder and regulatory approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) the ability of Metropolis to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the Transaction; (iii) potential litigation relating to the Transaction that could be instituted against Metropolis, SP+ or their respective directors, managers or officers, including the effects of any outcomes related thereto; (iv) the risk that disruptions from the Transaction will harm SP+’s business, including current plans and operations; (v) the ability of SP+ to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vii) continued availability of capital and financing and rating agency actions; (viii) legislative, regulatory and economic developments affecting SP+’s business; (ix) general economic and market developments and conditions; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the Transaction that could affect SP+’s financial performance; (xi) certain restrictions during the pendency of the Transaction that may impact SP+’s ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as SP+’s response to any of the aforementioned factors; (xiii) significant transaction costs associated with the Transaction; (xiv) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Transaction, including in circumstances requiring SP+ to pay a termination fee or other expenses; (xvi) competitive responses to the Transaction; (xvii) the risks and uncertainties pertaining to SP+’s business, including those set forth in Part I, Item 1A of SP+’s most recent Annual Report on Form 10-K and Part II, Item 1A of SP+’s subsequent Quarterly Reports on Form 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by SP+ with the SEC; and (xviii) the risks and uncertainties that will be described in the Proxy Statement available from the sources indicated below. These risks, as well as other risks associated with the Transaction, will be more fully discussed in the Proxy Statement. While the list of factors presented here is, and the list of factors to be presented in the Proxy Statement will be, considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on SP+’s financial condition, results of operations, credit rating or liquidity. These forward-looking statements speak only as of the date they are made, and SP+ does not undertake to and specifically disclaims any obligation to publicly release the results of any updates or revisions to these forward-looking statements that may be made to reflect future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Important Additional Information and Where to Find it
In connection with the proposed transaction between SP+ and Metropolis, SP+ will file with the SEC a Proxy Statement, the definitive version of which will be sent or provided to SP+ stockholders. SP+ may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the Proxy Statement or any other document which SP+ may file with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement (when it is available) and other documents that are filed or will be filed with the SEC by SP+ through the website maintained by the SEC at www.sec.gov, SP+’s website at www.spplus.com or by contacting SP+’s Investor Relations Team at:

SP Plus Corporation, Investor Relations
200 E. Randolph Street, Suite 7700
Chicago, Illinois 60601-7702
investor_relations@spplus.com
(312) 274-2000

Participants in the Solicitation
SP+ and certain of its directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies from SP+’s stockholders with respect to the proposed transaction. Information about the participants, including their ownership of SP+’s securities, is set forth in the proxy statement for SP+’s 2023 Annual Meeting of Stockholders, which was filed with the SEC on March 30, 2023 (the “Annual Meeting Proxy Statement”). To the extent holdings of securities by the participants (or the identity of such participants) have changed since the information disclosed in the Annual Meeting Proxy Statement, such information has been or will be reflected on SP+’s Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources indicated above. Investors may obtain more detailed information regarding the direct and indirect interests of SP+ and its respective directors, executive officers and other employees in the transaction, which may be different than those of stockholders generally, by reading the preliminary and definitive proxy statements regarding the transaction, which will be filed with the SEC.

In addition, Metropolis and certain of its directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies from SP+’s stockholders in connection with the proposed transaction. Investors may obtain more detailed information about Metropolis’s directors, executive officers and other employees by reading SP+’s preliminary and definitive proxy statements regarding the transaction, which will be filed with the SEC.

Contacts

Metropolis
FGS Global
Kerry Golds, Robin Weinberg, and Jared Levy
metropolis@fgsglobal.com

SP+
AdvisIRy Partners
David Gold
david.gold@advisiry.com
212-661-2220

Eldridge
Nadia Damouni
ndamouni@prosek.com
646-818-9217

Beam Global EV ARC™ Systems Continue to Operate Throughout Hurricane Idalia

September 07, 2023

Beam Global EV ARC™ Systems Continue to Operate Throughout Hurricane Idalia

EV ARC™ Systems in Florida, Georgia and the Carolinas continued to charge vital vehicles during grid outages

SAN DIEGO, Sept. 07, 2023 (– Beam Global, (Nasdaq: BEEM, BEEMW), (the “Company”), the leading provider of innovative sustainable products and technologies for electric vehicle (EV) charging, energy storage and energy security, today announced that none of its EV ARC™ products were disabled by Hurricane Idalia.

EV ARC™ systems in Florida, Georgia and the Carolinas which were in the direct path of the hurricane continued to provide vital EV charging and emergency power throughout the storm. Several locations where EV ARC™ systems are deployed experienced prolonged grid outages as a result of the hurricane, but Beam Global’s customers were able to continue to charge their EVs and access the emergency power panels integrated into the EV ARC™ product. The storm made landfall on Florida’s Gulf Coast cutting off power to more than 470,000 customers in Florida and Georgia.

Beam Global customers in the impacted region include the U.S. Army, the U.S. Marine Corps, the U.S. Department of Veterans Affairs, and the Department of Homeland Security. Organizations with vital fleet vehicles and the responsibility to provide services to the broader community can particularly benefit from Beam Global’s rapidly deployed off-grid EV charging infrastructure products which continue to operate during grid outages or in locations where it is too expensive, disruptive or impossible to extend the utility grid.

EV ARC™ systems are independently rated to withstand winds of 160 mph and are able to continue to operate in 9.5 feet of flooding. They support any quality brand EV charger and can be equipped with an optional Emergency Power Panel which provides 120v and 240v outlets for use by first responders or other authorized users when utility power is not available.

“We know how important it is to keep our customers’ vehicles moving,” said Desmond Wheatley, CEO of Beam Global. “That’s why we have developed products that continue to operate even during the harshest conditions. Extreme weather and events like wildfires are becoming more common and more destructive. It’s vital that the U.S.’s fueling infrastructure has redundancy and resiliency. Our products are providing both to our customers, many of whom are the very people we all rely on during disasters. We believe that at least 25% of EV charging infrastructure should include locally generated and locally stored electricity which is immune to centralized grid failures. Hurricane Idalia is just the latest incident to prove that belief to be correct. I’m grateful to those who serve during tough times and I’m proud that our products are there to support their vital missions.

Large, sustained grid outages have occurred with increasing frequency in the U.S. over the past two decades, according to a Wall Street Journal review of federal data. In 2000, there were fewer than two dozen major disruptions, the data shows. In 2020, the number surpassed 180. Weather-related problems have driven much of the increase in large outages shown in federal data, topping 100 in 2020 for the first time since 2011. Beam Global’s products provide a sustainable and scalable supply of electricity for EV charging and other uses even during extreme weather events.

About Beam Global

Beam Global is a clean technology leader providing innovative, sustainable products and technologies for electric vehicle (EV) charging, energy storage, energy security and outdoor media. Core platforms include Beam EV ARC™ and Solar Tree® sustainable EV charging systems, Beam AllCell™ high-performance energy storage solutions, energy resiliency and disaster preparedness products and a deep patent library.

Beam EV ARC™ EV charging infrastructure systems support any quality brand EV charging service equipment, and Beam AllCell™ battery solutions power micro-mobility, terrestrial EVs, aviation, maritime and recreational vehicles as well as stationery and energy-security platforms.

Beam develops, patents, designs, engineers and manufactures unique and advanced clean mobility solutions that protect the environment, save customers time and money, empower communities and keep people moving. Based in San Diego and Chicago, the company produces Made-in-America products with the mission to Lead the World to Clean Mobility. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW. For more information visit BeamForAll.com, LinkedIn, YouTube and Twitter.

Forward-Looking Statements

This Beam Global Press Release contains forward-looking statements including but not limited to statements about the Company’s belief about its future profitability. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results.

OMNIQ PARTNERS WITH TRIPSHOT TO PROVIDE A UNIQUE FRICTIONLESS PARKING SOLUTION FOR A MAJOR US TECHNOLOGY COMPANY

August 29, 2023

OMNIQ PARTNERS WITH TRIPSHOT TO PROVIDE A UNIQUE FRICTIONLESS PARKING SOLUTION FOR A MAJOR US TECHNOLOGY COMPANY

SALT LAKE CITY, Aug. 29, 2023 — OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or the “Company”), a provider of Artificial Intelligence (AI)-based solutions, announced today that it has partnered with TripShot, a leading transportation demand management (TDM) solution company to provide a unique frictionless parking solution for a major US technology company.

The innovative collaboration with TripShot’s TDM solution combined with omniQ’s Machine Vision technologies including the Vehicle Recognition System (VRS) takes innovative access control solutions and elevates the experience of commuters and campus parking management professionals.

The partnership will provide a seamless delivery of real-time occupancy information to campus parking managers via QR-based or VRSL-based access control systems. Through the TripShot app, commuters can easily procure a QR-code, scan it at the parking gate arm and begin or conclude a parking reservation. This process optimizes parking space utilization and supports commuters with a new level of convenience

Shai Lustgarten, CEO of omniQ stated “We are honored to partner with TripShot as we coordinate to offer the most unique solution on the market today. TripShot brings a pristine reputation of success servicing Fortune 100 companies and a unique product offering. Our combined experience places us in a position of strength to continue to deliver the most innovative products in the market. In addition to providing this capability to one of the most recognizable technology companies in the world, our work involved the integration into a global leading CRM software company. Our new customer will rely on omniQ’s software data, and the CRM platform, which will allow the customer to track, monitor, and manage its operations. This innovative technology will be available to corporate campuses and parking facilities globally, making it easier for drivers to seamlessly secure parking anywhere a parking structure is located.“

“We are excited to partner with OmniQ to support a global tech company’s campuses,” said Patrick Le, Co-Founder and Chief Product and Strategy Officer at TripShot. “Our mutual commitment to customer satisfaction and innovation results in solutions that make using and managing campus parking even easier. This partnership will grow as we continue to expand solutions with other leading companies, universities and more.”

This integration is another step towards a more seamless campus transportation experience during a time of hybrid work and rapidly changing commuting trends. TripShot and OmniQ will continue to grow their partnership to enhance campus TDM and access control technology.

About OMNIQ Corp:

OMNIQ Corp. provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, oil, gas, and chemicals.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $67.1 billion by 2028, and the Ticketless Safe Parking market, forecast to grow to $33.5 billion by 2032 and the fast casual restaurant sector expected to reach $209 billion by 2027.

For more information please visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Examples of forward-looking statements include, among others, statements made in this press release regarding the closing of the private placement and the use of proceeds received in the private placement. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

Contact Info:
IR@omniq.com

About TripShot

TripShot is a mobility technology platform that helps transit programs of all sizes—from private company shuttles and campus connectors to universities and public transit agencies—run safely, efficiently and competitively. Founded in 2014, TripShot has grown by serving Fortune 100 companies and building a range of intelligent features for some of the largest private transit networks in the world. TripShot replaces old complex commuter and fleet management systems, by providing a cutting-edge all-in-one platform with the tools managers need to run operations that build driver and rider confidence. Platform solutions include Fixed Route, On Demand Transportation, CAD/AVL, GTFS-RT, Capacity Management, Reservations, Parking and Digital Wallet. Visit TripShot.com to learn more.

Media Contact

Danny Drees
216-372-6209
ddrees@tripshot.com

EV charge point operator Believ announces new CEO

August 07, 2023

EV charge point operator Believ announces new CEO

Believ, the UK’s fastest growing Electric Vehicle charge point operator, has appointed Guy Bartlett as its new CEO.

Guy has a first class track record in the energy sector. He joins from infrastructure and solutions provider SMS plc, where he led the Energy Services division, focusing on developing strategy, new markets, technology and services. Prior to SMS he held various leadership roles at Deloitte, Smiths Engineering Group and Arthur D Little.

Believ – a joint venture between Liberty Global and Zouk Capital – has already delivered more than 2.4 million kWh of charge, amounting to a saving of nearly 200,000 kg of CO₂in line with its mission of achieving ‘cleaner air for all’.

Commenting on Guy’s appointment, Jonathan Pearson, Chair, Believ and MD, Capital Allocation and Business Control, Liberty Global says: “Guy’s proven abilities and passion for the energy sector will be key to accelerating the growth of the business as a charge point operator capable of delivering an end-to-end charge point service at scale and pace to address the Government’s ambition of installing 300,000 publicly-accessible charge points by 2030.”

Massimo Resta from Zouk Capital says: “We are delighted to welcome Guy to Believ to lead its next phase of dynamic growth. With our shared mission of scaling accessible and reliable charging infrastructure, we are looking forward to continuing to work with the team at Believ to deliver on Zouk’s Charging Infrastructure Investment Fund’s central objective, of creating public EV charging networks for the UK’s EV drivers.”

Perran Moon, CMO and Interim CEO, Believ adds: “We’re thrilled that Guy will be joing the team to help build on our flourishing reputation for the reliability of our technology, the quality of our service and the experience of our people. We look forward to Guy building on the firm foundations we’ve created in making Believ synonymous with delivering cleaner air for all.”

As well as supporting dozens of local authorities in realising their residents’ EV charging needs, Believ also recently launched its new B2B proposition, with a strong emphasis on the reliability of the equipment installed, with the result that network reliability is averaging over 99% over the last six months.

Guy will formally take over the role from Perran on 15^th September 2023.

ABM Continues Twenty-Year Parking Partnership with Orlando International Airport

June 01, 2023

ABM Continues Twenty-Year Parking Partnership with Orlando International Airport

ORLANDO, Fla., — ABM (NYSE: ABM), a leading provider of facility services, infrastructure solutions, and parking management, today announced a five-year partnership with one of the nation’s busiest airports, Orlando International Airport (MCO). This partnership serves as an extension of ABM’s twenty-year collaboration with MCO and will include providing parking and valet services at all three airport terminals, including the recently opened Terminal C—an innovative terminal geared toward high-tech passenger conveniences and the largest expansion project in airport history.

With air passenger volume across the U.S. returning to pre-pandemic levels, the number of people parking at airports is also increasing, creating a heightened demand from travelers for enhanced experiences. As one of the nation’s largest parking and transportation management providers, supporting over 2,000 client locations across the country, ABM is perfectly situated to deliver unparalleled service as MCO continues to set industry standards as a world-class, global gateway. This news follows ABM’s recent debut of its innovative Smart Parking solution, ABMVantage, aimed toward redefining parking infrastructure and developing parking and transportation experiences that prioritize drivers and travelers to create unified parking systems for its partners.

“At ABM, we value and appreciate the longstanding partnerships we’ve established with our clients and are excited to continue our relationship with MCO through 2028,” said Larry DeLuca, Vice President, Aviation Landside Services Central, ABM. “This partnership extension serves as a true testament of our shared commitment with MCO to deliver outstanding customer service and innovative solutions to help ensure airport guests are happy and safe from arrival to departure.”

For more information on ABM, please visit www.abm.com.

ABOUT ABM

ABM (NYSE: ABM) is one of the world’s largest providers of facility services and solutions. A driving force for a cleaner, healthier, and more sustainable world, ABM provides essential services and forward-looking performance solutions that improve the spaces and places that matter most. From curbside to rooftop, ABM’s comprehensive services include janitorial, engineering, parking, electrical and lighting, energy and electric vehicle charging infrastructure, HVAC and mechanical, landscape and turf, and mission critical solutions. ABM serves a wide range of industries – from commercial office buildings to universities, airports, hospitals, data centers, manufacturing plants and distribution centers, entertainment venues and more. Founded in 1909, ABM serves over 20,000 clients, with annualized revenue approaching $8 billion and more than 100,000 team members in 350+ offices throughout the United States, United Kingdom, Republic of Ireland, and other international locations. For more information, visit www.abm.com.

MEDIA CONTACT
ABM
Michael Valentino
michael.valentino@abm.com

TIBA Parking Systems LTD. Launch the X60 and SPARK platform in Israel

May 16, 2023

TIBA Parking Systems LTD. Launch the X60 and SPARK platform in Israel

Petach Tikvah, Israel, May 10, 2023 – TIBA Parking Systems company of FAAC Technologies, a global Parking andRevenue Control Systems (PARCS) development company announces the launch of X60 hardware product line,that is complemented by homegrown enhanced legacy Smart Park as well as all new native cloud SPARK software platforms in Israel.

For over 30 years, TIBA has provided innovative solutions for parking operators and owners, through reliable products that are easy to install, commission and maintain, and provide the best return on investment and lowestcost of ownership in the industry. The TIBA X60 hardware is an embedded proprietary controller-based, OS Less solution that encompasses the latest technologies including robust field-proven components such as touch screen,integrated SIP on board intercom and pin hole camera, voice annunciator, printer, barcode scanners, bill validators, andmuch more. The TIBA solution is highly customizable thus can support a tailor-made configuration for the needs of the different garages and use cases. The X60 platform as well as the all new SPARK cloud platform are backward compatible to our existing install base, thus allowing our customers to evolve into the new product line.

Since 2020, TIBA has been successfully deploying the X60 product line in USA, Australia, and additional territories around the world: parking operators benefit from its flexible solutions coupled with TIBA native cloudSPARK platform, the enhanced legacy Smart Park software, as well as a wide variety of third-party supplier integrationswith complementary hardware and software solutions. “With hundreds of garages and cloud tenants already deployed inother global territories, installations in Israel will be seamless and backed by a proven track record to our customers” says Luca Cervato, Parking BU Director at FAAC Technologies. “With TIBA originating in Israel and influencing thelocal market together with our distributors, valued customers, local leadership and development center, the Parking BU of FAAC Technologies is committed and geared to maintain our preeminence in the Israeli market as well as evolving neighboring territories”.

“We are proud to have the TIBA product lines developed in Israel and tailored to both the local and the international markets: our agile solutions, reliability and extremely fast architecture allow for the engaged parking experience. Our all-new native cloud SPARK platform and mobile phone SPARK application grant full control and ease of management for the garage owners and operators. The local Israeli market characteristics, our strong relationship with the market leaders and committed operational and service excellence in the country will enable our quick and successful deployments already underway” says Ilan Lev, General Manager of TIBA Israel. “We strive to not onlyserve but also protect our customers’ investments in the TIBA solution, and we do that by continuing to invest and develop new features and capabilities in our platform, while maintaining backward compatibility to our legacy installations: our new X60 platform and cloud solutions are backward compatible to our legacy product lines installed in the field, allowing our valued customers to use their TIBA systems and maintain continuity of their business while gradually migrating to the new offering.”

TIBA supports customers in Israel and around the world in all segments of the parking industry: airports, large campuses, multi-use parking complexes, governmental solutions for the smart city and congestion control, automated robotic parking, healthcare and hospitals, education and universities, hotels, hospitality, and much more. TIBA flexible and reliable solutions architecture allows for unique solutions to support the different verticals with tailor fit solutions.

About TIBA

TIBA Parking Systems, a company of FAAC Technologies is a preeminent leader of solutions for the parking andmobility industry. With the most advanced and flexible systems, TIBA products are scalable, reliable, and user-friendly. TIBA is committed to an “Engaged Parking Experience” through a focus on superior products, providing the industry’s most configurable solutions, and delivering a first-rate customer success partnership. TIBA’s flexible cloud architecture enables parking operators to leverage technology and market trends and unlock new revenueopportunities. TIBA serves parking operators and owners both directly and through an extensive network of value-added resellers. Visit www.tibaparking.com to learn more.

About FAAC Technologies

FAAC Technologies is one of the leading international players in the access automation and control business in both the residential and industrial sectors. The executive headquarters, the technological and managerial heart, are located in Bologna, Italy, but the group boasts a huge presence abroad, where it develops most of its business with both production sites and commercial premises. Established in Bologna in 1965 thanks to the forward-thinking intuition of its founder Giuseppe Manini, FAAC Technologies is today an international group led by a consolidated andhighly motivated management team, which operates through 53 legal entities present in 29 countries distributed across 5 continents, and over 3,600 employees.

Forward-looking statements

The information included in this press release contains, or may be deemed to contain, forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995 and the Israeli Securities Law, 1968). Saidforward-looking statements. Subject to uncertainties and assumptions and the actual results may materially differ. Allforward- looking statements in this press release are based on information available to TIBA Parking Systems on the datehereof. All written or oral forward-looking statements attributable to TIBA Parking Systems are expressly qualified in their entirety by the factors referred to above. TIBA Parking Systems does not intend to update these forward-lookingstatements.

Survision was chosen by HUB PARKING for a unique frictionless experience at LEGOLAND USA

April 27, 2023

Survision was chosen by HUB PARKING for a unique frictionless experience at LEGOLAND USA.

Amusement parks often mean an unforgettable day of fun but also endless long waiting lines from the beginning to the end of the visit.

Merlin Entertainments’s Legoland amusement parks (starting with New York and California) decided to face one of their most critical caveats: the frustration and inconvenience for visitors caused by long waiting lines at the parking lot.

That is why the Legoland team upgraded visitors’ experience while getting the most out of their parking assets.

Legoland needed the parking user experience to be easy, quick, and efficient while reducing potential lost revenue.

A Solution based on LPR

HUB Parking is the Parking system in charge of creating the new Legoland Pre-booking / Gateless / Free-Flow Ticketless Parking based on LPR, using Survision Micropak cameras.

Now Legoland entry lanes are fully free flow while exiting lanes gates are equipped with gates and License plate recognition to decide to open the gate if prepaid or to activate a pay station otherwise.

These are the Legoland Parking System’s new features:

Pre-Booking / Prepaid Parking: You can pre-book parking in other amusement parks, but you still have to wait in line like everybody else to validate the payment. In the new Legoland Free-Flow parking, you can Prepay your ticket and the LPR system will associate your license plate with your payment, so there is no need to perform any manual check.

Gateless free-flow entrance: No lines to access the park (and no impatient kids screaming in the back of the car!). One LPR camera per lane catches the visitor’s license plates on the go while driving at any speed to the Parking lots.

Fast Exit for Prepaid Customers: When exiting the park, LPR system will check your payment status and if Prepaid, it will open the barrier and let you go without stopping

On-site Pay Station: If your plate couldn’t be read at the entrance or if you didn’t Pre-book, the system will instruct you to make payment at the Pay Station

Advanced data gathering and statistics: This digitalization process allows for collecting behavioral and transactional information on every visit, giving the company a better understanding of its customers and an opportunity to tune up its service.

An amusement park without Parking waiting lines?

Yes, this is the happy truth for Legoland and their new enhanced Parking customer experience: visitors can now skip the parking line step and go straight to the fun part!

TEZ Technology Announces Leadership Restructuring to Support Organization Growth

March 24, 2023

TEZ Technology Announces Leadership Restructuring to Support Organization Growth

TEZ Technology (TEZ), the parking industry’s leading developer of app-free, ticketless solutions is thrilled to announce the appointment and promotion of several new executive and director level positions. This leadership restructuring is an essential step toward the organization’s continued growth. These individuals will play a significant role in the future of the organization, provide essential leadership in pursuit of TEZ’s development and goals, and support the needs of TEZ clients nationwide.

TEZ is pleased to welcome Jim Zaloudek to the team. Jim joins TEZ as our new Chief Financial Officer. In this role, Jim will lead the effort to implement TEZ’s financial strategy. Jim has over 30 years of finance, executive management, operations management, and M&A experience within the software, IT services and telecom sectors. His ability to break down “walls” and improve processes enables him to provide strong fiduciary leadership during periods of significant revenue expansion.

JG Biebighauser has been promoted to Chief Sales and Marketing Officer. After successfully leading TEZ’s product team in 2022, JG will now manage both the sales and marketing teams. JG’s background as an operator coupled with his work in sales, strategy, and marketing at IBM positions him well to lead our growth efforts at TEZ. In his new role, JG will develop strategies to implement TEZ’s sales and marketing efforts, will lead in our developing and maintaining our strong industry partnerships, and will identify opportunities to further develop TEZ’s client relationships and support our client needs.

Katherine Beaty has been promoted to Executive Vice President of Client Success. Katherine is an experienced industry leader with more than 20 years of experience in operations, compliance, cybersecurity, and more. In this new role, Katherine will lead the organization’s efforts to ensure that TEZ solutions meet each client’s unique needs. Katherine will lead a team of implementation and support specialists. Under her leadership these teams will be jointly responsible for ensuring our clients’ success after the sale.

Russell Wiant has been promoted to Executive Vice President of Product and Technology. Previously, Russell served as TEZ’s Vice President of Engineering. In this new role, Russell will lead TEZ’s product team and will enhance the processes used to gather customer requirements and to deliver innovative technology to the parking industry. In addition, Russell will continue to lead TEZ’s development team as they build our industry-leading suite of app-free solutions. By bringing both the product and development teams under his leadership, TEZ has improved our ability to nimbly respond to the needs of our clients and the market.

Adam Barge has been promoted to Director of Product Development. Adam has been a part of the TEZ Team for nearly six years, most recently serving as Product Manager for our TEXT2PARK solution. In this new role, Adam will manage the entire product management team, including identifying opportunities to continue to enhance TEZ products.

Chad Brown has been promoted to Director of Systems Engineering. Chad is a proven leader and has been with TEZ for over six years. In his tenure at TEZ, Chad has lead our support team, has been instrumental in building external partner relationships, and, most recently, has been responsible for our flagship product, SMS Valet. In his new role, Chad will be responsible for technical product management at TEZ, ensuring that our solutions are developed in line with TEZ’s commitment to the highest quality stability and reliability.

TEZ’s CEO Mike Simmons stated, “We are excited about the future of TEZ as an organization as we continue to grow and enhance our app-free parking solutions, while helping transform the parking industry to create the best parking experiences possible. Each of these individuals have a proven track record of professionalism, innovation, and leadership and we are thrilled about the opportunities possible as TEZ continues to grow. Each will play a vital role in continuing TEZ’s efforts to support our clients and their effort to serve their clients and communities.”

About TEZ Technology

TEZ has long been at the forefront of connecting drivers and parking facility owners and operators, becoming the go-to technology for ticketless parking and valet. TEZ is an industry leader in providing innovative, app-free parking solutions designed to streamline the parking experience. TEZ’s innovations include SMS text-based platforms TEXT2PARK, PERMIT2PARK, and SMS Valet, enabling clients and customers to facilitate user-friendly contactless transactions and payments in self-park and valet operations across North America.

TEZ empowers owners and operators of parking related real estate to “go mobile” and generate significantly more revenue and efficiencies, automating traditional paper ticket processes, promoting client brand awareness, and greatly enhancing guest experiences. For more information visit https://teztechnology.com/

DIXON Congratulates Emily Kwatinetz on her Promotion to Principal Consultant

March 20, 2023

DIXON Congratulates Emily Kwatinetz on her Promotion to Principal Consultant

We are thrilled to announce the promotion of Emily Kwatinetz to Principal!

Emily continues to be an essential part our team, and she has been instrumental in the success of our projects throughout the country. Emily deeply understands municipal operations, and she has expertise in parking policies and technology. Beyond managing our Planning Team and projects, Emily oversees our Data Team and the development of our new software solution, the DIXON Data Suite which has been successfully deployed in numerous municipalities.

Emily’s impact in the industry has been recognized by several awards including the Southwest Parking & Transportation Association Emerging Leader award this past October, and she received the “40 under 40” award from the National Parking Association in 2018.

Emily is an elected board member of the Pacific Intermountain Parking and Transportation Association. She also volunteers for the International Parking and Mobility Institute and the Washington State pedestrian advocacy nonprofit, Feet First.

Emily frequently presents at industry conferences, drawing upon her consulting experience supporting a range of municipal programs including paid parking, revenue collection and reconciliation, maintenance, employee and residential permits, wayfinding, shared parking, and other transportation and mobility matters. We are grateful to have Emily on our team!

Congratulations, Emily!

Julie Dixon, President

Dixon Resources Unlimited

TRES Announces Patriot L Product Now Made in USA

March 13, 2023

TRES Announces Patriot L Product Now Made in USA

In keeping with their quest to offer products made in the USA, Transponder and Reader Engineered Systems announces that Patriot L high performance long range reader will be the replacement for the original TRES-900.2 reader.

“The Patriot L is from our feature rich Patriot series RFID readers that are made and assembled in the USA with industry standard 26-bit weigand and other formats available,” explains Steve Hale, President of Tres. “The discontinuance of the TRES-900.2 product is in keeping with our practice of replacing older models with newer models that have improved design and functionality. Our intent is to allow our customers to order the 900.2 until stock is depleted.”

The Patriot L will install, wire and mount to any application where at 900.2 reader has been installed or considered for installation. “The Patriot L, along with the entire Patriot series, will provide long-range performance and will have additional features like transactional LED and internal adjustable buffer, to name a few,” says Steve.

TRES will continue to honor the warranty terms for the TRES-900.2 units for the duration of their purchased warranty period.

For more information, visit www.tresrfsolutions.com.

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