LocoMobi Acquires Florida Based Discount Park and Ride

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Toronto, Ontario (December 17, 2015)

LocoMobi, Inc, a technology company specializing in cloud-based parking, transit and tolling solutions, has announced the acquisition of Discount Park and Ride (DPR), a leading reservation technology company and off-airport parking reservation aggregator.

DPR is a product of parent company Foundry 119 and its Labs Division, an integrated business unit that specializes in startup incubation and custom software & product development. Co-founder Alex Miningham, a Tampa, Florida based entrepreneur adds, “The acquisition of Discount Park and Ride is exciting for us, particularly because this is the first exit for a product we’ve developed from the ground up through Foundry Labs.”

The integration of DPR into LocoMobi’s vast suite of cloud-based service offerings, particularly its QuickPay mobile application, provides an additional layer of value for its clients worldwide. This acquisition will provide LocoMobi with the ability to offer pre-pay reservation capabilities to its customers across multiple distribution channels. Furthermore, LocoMobi will be able to leverage the relationships DPR has built with over 80 parking facilities in 23 different airport and seaport markets throughout the United States. “The relationships we’ve developed with our US based facilities allows LocoMobi to accelerate its expansion into the off-airport and seaport markets,” Miningham explains. Grant Furlane, LocoMobi’s President and CEO adds: “We are excited with this new addition to our product suite and this further confirms our commitment to enable a full end to end ecosystem for Parking, Toll Highways and Transit.”

If you would like more information about this topic, please contact Grant Furlane at 416.898.3455 or grant@locomobi.com.

About LocoMobi

LocoMobi is a cloud-based parking, transit, and tolling company that produces and distributes pioneering technology to travelers and parking providers throughout the United States. Through their license plate recognition (LPR) system, they offer a complete revenue engine that also provides a refined system for virtual permitting systems, including violation and citation management. LocoMobi also designed and implemented the first LPR-based system, incorporating payment stations and barrier gates, which was integrated into a single cloud-based system. Lastly, the company designs and implements a complete suite of traditional parking systems, including the conventional machine readable ticket systems and can combine them with license plate recognition as one single solution for airport and seaport parking providers.

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