Paragon ID (Euronext Paris - FR0013318813 - PID), the European leader in ID solutions, technologies used in the Mass Transit & Smart Cities, e-ID, Track & Trace and Payment markets, is pleased to announce the acquisition of 100% of the capital of UrbanThings, an established UK-based mass transit digital designer, providing passenger information, digital ticketing, payment and analytics for transit operators.
UrbanThings, leading provider of Mobility & Ticketing digital solutions for UK transit operators
Based in London Bridge, UrbanThings is the provider of one of the leading UK mass transit applications. Bus Checker, developed by UrbanThings in 2012, provides real-time passenger information and is one of the largest independent bus timetable apps in the UK with more than 2 million downloads.
The company has developed its offering of mobile ticketing, websites and analytics through their central smart transport platform where passengers can plan and pay for their trip with many complementary modules such as vehicle tracking, origin-to-destination analysis and revenue sharing.
Their customers include Transport for London, Thameslink, Transport for Wales (TrawsCymru), Newport Bus and Ipswich Buses.
Complementary offering and market presence
Paragon ID is a leading provider of smart ticketing solutions worldwide. In the last few years, the company has expanded into mobile and web ticketing solutions through its French subsidiary, airweb, and has recently launched Open ABT, a complete and integrated smart ticketing platform including EMV payment.
UrbanThings and Open ABT's platforms complement each other in terms of offering. UrbanThings has focused originally on passenger information while airweb centres on mobile and web ticketing solutions with over 80 deployments. UrbanThings' acquisition will considerably strengthen the integrated solution with a comprehensive digital platform that can answer the growing requirement for mobility as a service (MaaS).
The company benefits from key technology modules and a strong multi-disciplined development team which will enable the integration with partners in the mobility world for solutions including trip planning, payment and more.
Paragon ID's Open ABT is experiencing fast growth in the EMEA region and the addition of UrbanThings will be key to accelerate business development in the UK and other English-speaking markets, where Paragon ID has a strong presence including the USA and Australia. UrbanThings also brings powerful market specific features such as real time transport data and contactless card integrations.
Clem Garvey, CEO at Paragon ID, comments:
"Access to mass transit systems is increasingly managed through mobile ticketing and payment by contactless bank cards. Our company has seen a tremendous growth in this sector in the last two years and UrbanThings is a perfect fit for us. Their offering perfectly complements that of our subsidiary airweb and sits at the heart of our growth plan in the mass transit and smart cities markets. The acquisition of UrbanThings will allow us to gain market share not only in the UK but also in North America and Australia in line with our strategy to become the chosen ticketing and MaaS partner in key countries. We are delighted to welcome the team to the Paragon family."
Carl Partridge CEO at UrbanThings states:
"More than ever, cities and transport operators need to make services efficient, effortless and sustainable for everyone. Since 2012, we've been creating technology solutions to enable Mobility as a Service. (MaaS) and achieve these ambitions. Paragon ID is a natural home for our technology and team, with significant synergies and complementary products that will allow us to deliver a full-featured solution that unlocks ABT and MaaS for the global market. We're delighted to be joining the Paragon family and this acquisition will allow us to further our market ambitions to grow both domestically and also further afield, ensuring that we can make travel simple for everyone."
About UrbanThings
UrbanThings is a UK-based technology company providing cities, local authorities and passenger transport operators with a smart transport platform for mobile ticketing and reservations, live vehicle tracking and rich passenger analytics.
Their technology powers over 130 million passenger journeys a year, and they are also proud to be known as the team behind BusChecker, the app that has received critical acclaim throughout the UK media and used by millions across the globe.
For further information about UrbanThings, visit Urbanthings.co.
About Paragon ID
About Paragon ID Paragon ID is a leader in identification solutions, in particular in the e-ID, Transport & Smart Cities, Traceability & Brand Protection and Payment sectors. Paragon ID employs more than 650 staff, with manufacturing sites in US and Europe, close to its customers.
Paragon ID is listed on Euronext Paris with a majority of its shares being held by Paragon Group, a leading provider of Customer Communications, Identification, Graphics Services and Office Services. Paragon Group has a turnover of €1.5 billion and more than 9,000 employees. Paragon Group combines generations of experience with the latest innovations in technology and smart data to enable responsive and meaningful interactions between organisations and their customers. For further information about Paragon Group, visit Paragon-Europe.com.
Euronext Paris - Share identification: Paragon ID - ISIN Code: FR0013318813 - Mnemonic code: PID.
For further information about Paragon ID, visit Paragon-id.com.
Contacts
| Paragon ID Clem Garvey CEO Tel: +33 (0)2 48 81 61 00 clem.garvey@paragon-id.com | ACTUS finance & communication Investor Relations Mathieu Omnes Tel: +33 (0)1 53 67 36 92 momnes@actus.fr | ACTUS finance & communication Press relations Fatou-Kiné N'Diaye Tel: +33 (0)1 53 67 36 34 fndiaye@actus.fr |
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