SAN DIEGO, CA--(Marketwired - May 16, 2013) - IPS Group, Inc. announces its acquisition of American Parking Systems, LLC for an undisclosed price. IPS Group is the leader in wireless, credit card enabled single space parking meter technology, vehicle detection systems and integrated data management systems in the on-street parking industry. American Parking Systems, located in Philadelphia, PA, has designed a line of parking pay-stations built from the ground up specifically for the American market and will be launching additional variations this summer. This acquisition will expand the IPS product portfolio to encompass single-space, multi-space, vehicle detection sensors and mobile payments capability into a common data management system, which also extends the IPS solution to address both on-street and off-street parking markets.
"IPS has always focused on developing cutting edge parking technologies that are reliable, cost effective and easy to use," said Dave King, President & CEO of IPS Group, Inc. "The acquisition of American Parking Systems underscores our commitment to promote the very best technologies to our customers, addressing both their on-street and off-street technology needs, and facilitating the seamless integration of varied parking technologies into a common data management system."
Kevin Woznicki, President of American Parking Systems confirmed that the acquisition creates an exciting opportunity to marry cutting edge pay-station technology with the power of the IPS data management software. "IPS has quickly emerged as an industry leader and this acquisition should appeal to customers looking to combine the latest in pay-station technology offered by American Parking Systems with the powerful back office software suite and dedication to customer service that IPS is known for."
Dave King continued, "The beauty here is that the entire product portfolio is designed, manufactured and supported here in the US and that model lends itself to provide the very best customer support and responsiveness to customer requests for application specific customizations," he said. "We welcome American Parking Systems to the IPS Group family and look forward to taking this powerful story to the market immediately." American Parking Systems will continue as an operating company of IPS Group, Inc.
About IPS Group, Inc:
San Diego-based IPS Group, Inc. (www.ipsgroupinc.com) is a design, engineering and manufacturing company focused on ultra-low power wireless telecommunications and parking technologies. IPS manufactures its parking meters in the US and has been delivering world-class solutions to the telecommunications and parking industries for nearly 20 years. The company is best known for their patented credit card enabled, solar powered single-space parking meter and comprehensive web-based meter management system.
About American Parking Systems, LLC:
APS is a systems integrator offering best of breed products in meter technology, back office systems, space sensors and out of the box integration with many convergent technologies such as pay-by-phone, user guidance and enforcement among others. The APS Freedom Pay Station is the first multi-space parking meter specifically designed for, manufactured in and developed for the US market.
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