ParkHub, a parking inventory management solution provider, announced that it has acquired Smarking, a parking management platform, for an undisclosed amount.

The acquisition is expected to strengthen ParkHub’s suite of solutions and expand its market presence. 

Smarking offers a proprietary parking management technology used by city municipalities, parking operators, and parking asset owners. Smarking’s business intelligence (BI) platform unifies parking data in a single platform, providing real-time updates on key metrics, email alerts for anomaly detections, and data-driven recommendation and benchmarking tools. The platform currently serves 2,500+ locations in the US, including cities such as Aspen, Santa Monica, Santa Cruz, Miami, and Pasadena.

Analyst QuickTake: The acquisition of Smarking extends ParkHub’s geographical reach in the parking inventory management space by significantly increasing the number of locations in the US while also diversifying its activities beyond large-scale parking venues. This is also likely to complement the firm’s latest additions in payment processing solutions, which include Fuzse, (acquired in August 2022) and Curbtrac,(acquired in July 2021) where the firm can leverage Smarking’s suite of BI analytical solutions to provide insights on parking revenue projections and upsell recommendations.