PHOENIX, Oct. 16, 2019 /PRNewswire/ -- Verra Mobility
(NASDAQ: VRRM), a global leader in smart transportation, today
announced it has signed an agreement to acquire Spanish company
Pagatelia, a European leader in electronic tolling throughout
Spain, Portugal, France and Italy. This acquisition enables Verra Mobility
to accelerate its expansion of tolling solutions for rental car and
fleet companies across Europe in a
rapidly growing global tolling market expected to multiply from 196
million tolling vehicles to more than 540 million by 2025. (Source:
Global Electronic Tolling Collection studies by Ptolemus)
"We have taken large and critical steps in European expansion,
first with our acquisition of European Parking Collection (EPC)
last year, followed by our partnership with APRR in May," said
David Roberts, CEO, Verra Mobility. "The acquisition of Pagatelia is
one more step in this journey. Their tolling interoperability
across southwestern Europe, along
with their existing tolling authority relationships, allow us the
capability to launch fleet and rental car solutions with broader
offerings to customers for increased European growth. We partner
with the largest North American rental car and fleet management
companies to offer value-add toll solutions, and it makes sense
that we expand those services into Europe, as well. We're delighted to welcome
the company and its employees to Verra Mobility."
Pagatelia's platform manages electronic tolling transactions
from more than 500,000 devices. Current customers include highway
and parking operators, car manufacturers, financial institutions
and individual drivers. Virtual payment accounts are created on the
Pagatelia platform for tolling and parking payment where customers
can choose from various tolling plans that enable access to toll
roads across four countries without ever stopping at queues or
paying penalties.
"We are excited to become part of Verra Mobility," said Ramón
Cereijo, CEO, Pagatelia. "Our work in Spain, Portugal, France and Italy further complements Verra Mobility's
European tolling and parking offering. Their resources and
experience as a leader in global mobility can augment our current
portfolio and enhance the pan-European travel experience for Verra
Mobility customers."
The transaction is expected to close at the end of October,
subject to customary closing conditions.
About Verra Mobility
Verra Mobility (NASDAQ: VRRM) is committed to developing and using
the latest in technology and data intelligence to help make
transportation safer and easier. As a global company, Verra
Mobility sits at the center of the mobility ecosystem – one that
brings together vehicles, devices, information, and people to solve
the most complex challenges faced by our customers and the
constituencies they serve.
Verra Mobility serves the world's largest commercial fleets and
rental car companies to manage tolling transactions and violations
for millions of vehicles. A leading provider of connected systems,
Verra Mobility processes millions of transactions each year through
connectivity with more than 50 individual tolling authorities and
more than 400 issuing authorities. The company also fosters the
development of safe cities, partnering with law enforcement
agencies, transportation departments and school districts across
North America, operating thousands
of red-light, speed, bus lane and school bus stop arm safety
cameras. Arizona-based Verra
Mobility operates in more than 15 countries. For more information,
visit www.verramobility.com.
MEDIA CONTACTS:
Verra Mobility
Celeste Peterson
celeste.peterson@verramobility.com
Golin on behalf of Verra Mobility:
Christi Beard
cbeard@golin.com
Logo -
https://mma.prnewswire.com/media/393602/American_Traffic_Solutions_Logo.jpg