News
Wayfarer Joins Parkeon Group
Parkeon SAS, the world leader in parking, transport ticketing and payment systems has acquired the Wayfarer Group Limited, with its significant global presence and 80% share of the UK bus fare collection market.
Parkeon will retain the Wayfarer name and its major centres in Poole, Croydon, Manchester and Glasgow. The companies’ Research & Development facilities will be combined and co-ordinated to benefit customers, while their service centres will be fully integrated, with more personnel on the ground, to provide unrivalled product support.
For all our customers and staff it will be ‘business as usual’. Both companies will continue to operate as normal with all existing commitments being fulfilled as a priority. Both Parkeon and Wayfarer’s product ranges are highly complementary. Together the two companies present a comprehensive range of exciting products to the Transport Sector, ensuring the Group continues to be at the forefront of integrated transportation technology. Parkeon is committed to maintaining Wayfarer’s technical leadership and will retain the Company’s internal expertise, whilst bolstering it with Parkeon staff.
“One of Wayfarer’s main objectives over the recent past has been to expand and develop its business whilst retaining the core values that have brought success to date. Being part of a larger group with Parkeon will help this to happen and will enable Wayfarer to compete at all levels, offering one-stop solutions in transportation technology. In combination with Parkeon, Wayfarer will be positioned as a global market leader for multi-modal transport ticketing, building on our expertise and reputation”, states Tony McNamara, Chief Executive Officer of Wayfarer.
Founded 30 years ago as a division of Schlumberger, Parkeon today is a world leader in parking and transport ticketing and payment systems. Its equipment and systems are used to manage mobility in over 3,000 cities across 40 countries. In the parking sector, Parkeon has an installed base of more than 150,000 on-street terminals and 800 off-street management systems worldwide. In the transport sector, it has an installed base of 5,000 ticket vending machines for national, regional and local rail networks, primarily in Europe.
Based in Paris, Parkeon has 900 employees around the world and generated revenues of €140 million in 2006. Following its spin-off from Schlumberger, Parkeon was incorporated in November 2003. In addition to its management, the main shareholder is Barclays Private Equity. For more information: www.parkeon.com
About Wayfarer
Founded in 1975, Wayfarer Transit Systems is the UK's leading provider of integrated fare revenue and back office systems to the public transport industry. The Company's expertise ranges from smart card technology and electronic ticketing equipment to CCTV security, GPS and mobile data networks. The Company currently holds 80% of the UK bus operator market, and sells 40% of its production outside of the UK. Wayfarer has supplied in excess of 400,000 electronic ticketing machines and supporting equipment worldwide - more than any other fare revenue systems supplier in the world. Based in Poole, Dorset, Wayfarer has service centres in Croydon, Coventry, Manchester and Glasgow, as well as in Elizabeth, New Jersey and Kingston, Jamaica. For more information: www.wayfarer.co.uk