Thursday, September 10, 2015

ParkMe Acquired By INRIX

Santa Monica-based parking information provider ParkMe, which was founded by Sam Friedman and Alexander Israel, has been acquired by traffic information provider INRIX, the two announced this morning. Financial details of the acquisition were not announced. INRIX said that ParkMe will remain in Santa Monica, and that it will continue to offer ParkMe's services. INRIX said the buy will help it expand the depth of parking serviecs it offers to such automotive companies as Audi, BMW, and Lexus. INRIX will be hiring all of ParkMe's existing staff, and have appointed Friedman and Israel to executive positions at the company. ParkMe was venture backed by Angeleno Group, Fontinalis Partners and IDG Ventures.

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