23rd Oct 2013 15:40
LONDON (Alliance News) - Business process management company Capita PLC Wednesday said it has acquired ParkingEye, a provider of technology based car parking services for GBP57.5 million on a cash free debt free basis.
Capita said ParkingEye's automatic number plate recognition based management system is used by clients to provide remote enforcement, management information and alerting systems.
The solution is designed to ensure that car parks are used by individuals with a legitimate right to use them and allows clients to retain a fair approach to parking charges and cancellations.
The firm said the acquisition will allow it to develop a car park management and enforcement business for new and existing clients in leisure, local government and the NHS.
The business currently provides services to clients such as Aldi, Morrisons and British Land.
Capita said Lancashire-based ParkingEye is forecasting an operating profit of GBP8.1 million on revenue of GBP25.8 million in its financial year to August 31 2014.
The stock was trading at 979.50 pence Thursday afternoon, up 5.00 pence or 0.5%.
By Anthony Tshibangu; [email protected];
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