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"Park Now": BMW and Daimler sell app to Swedish competitors

2021-03-09T16:04:40.496Z


Reserve parking spaces and pay by smartphone: This is what the joint app from the car makers BMW and Daimler should do. Now it is being sold to the Scandinavian competition.


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Ex-BMW boss Harald Krüger and ex-Daimler boss Dieter Zetsche at the presentation of the mobility service provider "Your Now" in 2019

Photo: Bernd von Jutrczenka / dpa

There have been rumors of a possible sale for a long time, now they have come true: BMW and Daimler are separating from the parking app “Park Now”, one of the five pillars of their joint mobility service provider Your Now.

The company will be sold to the Swedish competitor Easypark, announced the two carmakers and the new owner.

The parties agreed not to disclose the purchase price.

The antitrust authorities have yet to approve the takeover.

When the first speculations about a sale arose in autumn, it was assumed that the company could have a value of several hundred million euros.

With the app, drivers can reserve and pay for parking spaces in eleven countries and 1,100 cities.

Corona diminished the success

The new owner Easypark offers similar services with an app, but also allows electric vehicles to be charged.

According to its own information, the company is represented in 20 countries and 2200 cities in Europe and Australia.

Technology investors Vitruvian Partners and Verdane are behind the Stockholm-based company, which was founded 20 years ago.

In Germany, Easypark is active in around 260 cities after several takeovers, Park Now in 280.

BMW and Daimler merged their mobility services business in 2019 to form the joint venture Your Now.

These include the car sharing service provider “Share Now”, which arose from the car2go (Daimler) and DriveNow (BMW) offers, as well as the taxi and ride-sharing brokers “Free Now” and “Reach Now” and the charging station platform “Charge Now «.

Rumors of a sale of parts of the platform have been around for a long time, especially since the corona pandemic has reduced its success.

In addition, it is the endeavor of the corporations to concentrate more on their core business again.

Daimler CFO Harald Wilhelm recently stated that the "Free Now" companies should be able to stand on their own two feet.

One is open to partnerships.

Icon: The mirror

rai / Reuters / dpa

Source: spiegel

All business articles on 2021-03-09

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