Dallas-based ParkHub has announced the acquisition of San Francisco-based parking software Smarking, according to a news release.
"The addition of Smarking allows us to expand our product offering and better support our existing customers while continuing to grow and serve new markets," Connor Mowles, president of ParkHub, said in the release.
Smarking was founded in 2014 by Wen Sang and Maokai Lin. The company has a software-as-a-service for customers to manage their parking assets through data and analytics. Smarking supports more than 2,500 parking locations and is used primarily by commercial real estate owners, parking operators and municipalities.
"Smarking and ParkHub have a shared vision of a customer-centric, software-driven ecosystem that increases revenue and drives cost savings for parking managers, owners and operators," Wen Sang, CEO of Smarking, said in the release.
In early October, ParkHub formed a partnership with Los Angeles-based entertainment company Oak View Group. Oak View plans to use ParkHub's parking management technology to optimize parking operations and facilitate payments.
In August, ParkHub acquired Dallas-based payment integration company Fuzse. The company said the acquisition of Fuzse will increase its payment innovation and also help ParkHub gain customer insights for its hundreds of customers. The terms of the deal were not disclosed.
