BMW Acquires Parkmobile, Parking App Developer

By Anna Breuer on 17 January 2018
  • Share

BMW announced the acquisition of Parkmobile, a developer of parking apps.

Parkmobile is the largest mobile parking services provider in North America according to BMW, and BMW has held a minority stake in the company for several years.

The move is part of BMW’s strategy to address mobility beyond selling cars and the automaker sees this as an opportunity to develop the Parkmobile brand around the world.

According to figures provided by BMW, over 30% of city traffic is due to drivers hunting for parking spots. By helping drivers find spots, the service can then reduce inner city traffic. It could also conceivably increase car ownership as well as BMW sales as many city dwellers avoid owning a car due to the difficulty of parking.

Parkmobile currently has over one million parking spots in North America.

(Photo: Accura Media Group)