Astorg Partners-backed Parkeon set to merge with Cale

Astorg Partners’ Parkeon and fellow parking and ticketing technology company Cale have entered into negotiations to merge.

Astorg acquired Parkeon in April 2016 after it had been looking at the business for a number of months.

Paris-headquartered Parkeon posted revenues of €220m last financial year while Cale saw €70m. The deal will give the new company a presence in around 5000 cities in approximately 70 countries. It will have an employee headcount of 1300, most of whom will be based in France, the UK, Sweden and North America.

The proposed merger is expected to be completed at the beginning of 2018.