Transport technology business Masabi has announced the acquisition of ticketing solutions provider Passenger.
Masabi, which operates a fare payments-as-a-service model, says the move will strengthen its “end-to-end mobility offering by combining its global fare collection, payments, and back-office solution, Justride, with Passenger’s award-winning expertise in white-label mobile applications, websites, and real-time information tools”.
The London-based businesses look forward to developing a “shared vision for the future of public transport”, a press release says.
Masabi launched its first UK mobile ticketing application in 2007 and now has offices in London, New York, Denver and Cluj-Napoca (Romania) with annual revenue of more than £3.8 million according to its most recent accounts.
Its services include mobile and account-based ticketing, and validation solutions.
“Passenger has cultivated an excellent reputation for delivering intuitive, high-quality digital experiences that put customers first,” says Brian Zanghi, CEO at Masabi.
“By combining Passenger with Masabi’s offerings, we will accelerate our vision of a fully connected, cloud-based mobility platform that can serve both operators and passengers worldwide.
“This acquisition enhances our ability to support cities and transport authorities and operators as they modernize and move toward more seamless, data-driven mobility systems.”
Passenger was set up in 2008 and has since grown to employ more than 30 staff. Last year it boasted of more than 1.5 million users of its passenger apps.
Lynx, Transport for Cornwall and Newport Bus were among operators and authorities to partner with Passenger last year. Traveline also announced it had appointed Passenger to develop new digital services.
“This deal is the beginning of an exciting new chapter for Passenger,” says Tom Quay, CEO at Passenger Technology Group Ltd.
“Masabi is a company that shares our focus on innovation, reliability, and improving public transport for both operators/authorities and passengers.
“Joining the global SaaS (Software-as-a-Service) fare collection leader gives us the opportunity to scale our technology and bring the Passenger customer experience platform to new markets, while continuing to serve existing clients with the same commitment and agility they have come to expect.”
Both businesses assure clients they plan to “deepen product integration, expand functionality, and enhance support capabilities alongside the development of innovative new products while ensuring continuity of service for existing customers”.
