Transport technology startup UrbanThings has been acquired by Paragon ID, which provides ticketing solutions worldwide.
The deal will see the two companies “integrate product offerings” with particular focus on Paragon ID’s French subsidiary, Airweb, accelerating the rollout of a global mobility platform to mass transit.
It comes after Paragon ID expanded into mobile and web ticketing solutions through Airweb in the last few years. The two recently launched Open ABT, a modular, integrated smart ticketing platform, which enables payment and validation methods for smartphones and contactless bank cards.
The company says UrbanThings, which provides Mobility as a Service (MaaS) solutions, mobile ticketing, real-time journey information, vehicle tracking and passenger analytics, complements Open ABT. UrbanThings will be supported by Paragon ID to work closely with Airweb to create integrated MaaS platform for transport authorities and operators across the world.
“More than ever, cities and transport operators need to make services efficient, effortless and sustainable for everyone,” says Carl Patridge, UrbanThings CEO. “Since 2012, we’ve been creating technology solutions to enable MaaS and to 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 are looking forward to start working with Airweb’s team on the development of our combined offering.
“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 further afield, ensuring that we can make travel simple for everyone.”
Adds Clem Garvey, CEO at Paragon ID: “Access to mass transit systems is increasingly managed through mobile ticketing and payment by contactless bank cards. Our company has seen tremendous growth in this sector in the last two years and UrbanThings is a perfect fit for us. Its 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.”
