Enforcement group Marston Holdings has acquired Stockholm-based Parktrade, a technology and data business.
Parktrade has two key offerings, one of which is a technology platform that facilitates management and payment of low mission zone charges, congestion charges and free flow road tolls. This platform enables multi-currency payments, auto payments and electronic invoices.
It also provides access to European vehicle registration databases, ensuring that owners of foreign-registered vehicles can be identified and contacted to recover unpaid charges and contraventions.
In a company statement, Marston Holdings said: “Parktrade enhances our capability in two important ways, and brings on board a high-quality management team with experience of working across European jurisdictions. We’re delighted to welcome them on board.”
Parktrade is Marston’s third acquisition of 2019, following that of air quality and moving traffic monitoring specialist, Videalert, and Indian artificial intelligence software developer Logic Valley.