Acquisition creates an advantage for real estate owners to modernize their assets in a rapidly diversifying mobility ecosystem via digital, connected experiences
with Legacy PARCS systems
June 16, 2021 (Austin, TX and Chicago, IL) – FLASH, the leader in flexible technology solutions for urban real estate, acquires Parkonect. This acquisition empowers real estate owners with wider access to 21st century parking technology that fits wherever their asset is along its digital transformation and mobility expansion.
Parkonect and FLASH are the only cloud-born, mobile-first parking technology companies delivering Parking Access and Revenue Control that continuously add new features and third-party integrations with over-the-air updates. Both companies help properties thrive in today’s rapidly shifting mobility ecosystem by facilitating connectivity and mobility in parking assets via real-time intelligence and digital commerce tools.
“FLASH is committed to deploying technology that empowers real estate owners to unlock the full value of their urban real estate, and that includes assets with legacy infrastructure as well as those looking to modernize their parking systems,” says Dan Sharplin, Executive Chairman and CEO of FLASH. “The acquisition of Parkonect lets the industry know that we believe access to flexible, agile parking solutions, no matter what PARCS system is in the ground, is vital for differentiating your asset in highly competitive urban core markets.”
“When Parkonect launched ten years ago, we set out to create an IoT, cloud-based platform that augmented the current parking technology layer. As a real estate developer, I knew first-hand how valuable this approach was to the traditional rip-and-replace model,” said Harlan Karp, CEO and founder of Parkonect. “Our future-ready system allowed asset owners to take a relatively risk-free step towards modernization, while proving out their investment. With FLASH, I look forward to continuing to deliver world-class solutions that allow asset owners to make lasting improvements to asset value.”
Parkonect will continue to advance its distinct product line and roadmap offering both Parkonect and FLASH customers more options for 21st century parking and asset management solutions. For current Parkonect customers, pricing and service will remain unchanged.
Karp continues, “We are thrilled to be a part of FLASH’s growing brand because we can focus on our passion – solve parking’s greatest challenges – with the added benefits of their world class operations, sales and marketing teams.”
FLASH is an innovator in the urban mobility space, helping businesses rethink one of their most valuable assets: the parking garage. Our award-winning cloud-born platform is custom configurable, secure, reliable, and grows alongside you as business or consumer demands evolve. Visit www.flashparking.com to learn more.
Peppercomm for FLASH
Senior Vice President, Automotive & Transportation Strategist
Senior Director of Brand & Communications