Daimler, BMW may sell parking-app business 'Park Now' to rival EasyPark: Sources

A sale of Park Now would be one more step from the German luxury-carmakers to focus on their core automotive operations.
By : Bloomberg
| Updated on: 07 Feb 2021, 09:30 AM
File photo of BMW logo
File photo of BMW logo
File photo of BMW logo
File photo of BMW logo

Daimler AG and BMW AG are in talks to sell their jointly owned parking-app business Park Now to European rival EasyPark Group, according to people familiar with the matter.

The companies could announce an agreement as soon as the next few weeks, said the people, who asked not to be identified because discussions are private. There’s no certainty the talks will lead to a transaction with Stockholm-based EasyPark, and the carmakers could still opt to revive negotiations with other suitors, the people said.

Representatives for BMW, Daimler and EasyPark declined to comment.

(Also read | BMW to use world's first solar-made aluminum)

A sale of Park Now would be one more step from the German luxury-carmakers to focus on their core automotive operations. Daimler earlier this week announced plans to split up into the world’s largest makers of luxury cars and commercial vehicles, renaming itself Mercedes-Benz and separately listing its truck unit by year-end.

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Park Now allows drivers to use a mobile app to pay for parking on the street and in lots. European tech company EasyPark provides digital services for parking in more than 2,200 cities across 20 countries, according to its website, and has been expanding through acquisitions.

First Published Date: 07 Feb 2021, 09:30 AM IST
TAGS: BMW Daimler
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