Smart Parking Limited acquired Parking management contracts and assets of Local Parking Security Limited for AUD 5.8 million.

Smart Parking Limited is engaged in design, development, and management of parking technology. The Company operates in three segments: Parking Management, Technology, and Research & Development. The Parking Management segment is engaged in the provision of parking management solutions, servicing the retail sector, managing agents and landowners in the United Kingdom, New Zealand, Germany, and Australia. The Technology segment is engaged in the sale of technology, hardware, and software, predominantly for parking solutions around the world, and to support the parking management division. The Research & Development segment includes research, developing, and enhancing automatic number plate recognition (ANPR) software/hardware for both the Technology and Parking Management divisions. It also provides a real-time vehicle parking sensor solution, known as SmartPark. The SmartPark system fully integrates parking, guidance, payment, and analytics as well as hosts complementary services.